Reminds me of when it jumped from $1.92 to $4.20 on no news and then back down.
MMs like to play games. I am glad the longs may have had the opportunity to take some profit. This runup, just before the Takeda CC and the Affymax 1st Q 2013 reminds me of the time the MMs ran the stock up, on no news, from $1.92 to $4.20 with just as much volume as here. Of course, the MMs took it back down again, and I believe they will do the same here. I tried to short more AFFY at $1.60, but my TD Ameritrade account told me there were no shares available to short. Fortunately, I am short from $15 plus per share so this is just market noise to me. GLTA.
betting on a name about to go for ch 11, trying to dream up scenario that is not likely to be reality.
somewhere, a miracle will come...
huge returns on a GAMBLE.
or just a rotten goose egg...
Hardly. I would have like to have participated in this rally as a trader, but could not. Apparently, at least at TD Ameritrade, retail cannot short AFFY. If I could short it, I would have played the swings and I tried repeatedly at lots of different prices in the last 2 days to see if it could be shorted. It could not. I also looked at the $1 puts for the different months, but the MMs kept the premium, IMHO, too high to make a profitable trade, so I just held tight to my short position. We shall see.