Intersting take - from the article: "...GNVC fell back to $2.82 today, which translates into a 16% tumble from the recent high. It's a bitter-sweet affirmation that I made the right decision, particularly knowing that more downside is on the way. Why do I think that? Because the selling volume GenVec, Inc. today was the strongest volume we've seen in a few weeks; the sellers are crawling out of the woodwork..."
Link to "GNVC...have already tipped their hands":
Same as you. Also fib retracement levels, so I understand levels that the MM might test, up or down. A nice one page snap shot page listing support and resisitance levels is STocktA.com. I guess I'm a visual person. I seem to be able to get what I need quickly from scanning the Stockta.com charts for the visual, and support and resistance, clues I need to make a better informed judgement and assessment on what I want to do next.
To find stocks to buy I look for Golden crosses, the 50 day moving average crossing above the 200 day moving average. I will also look for reversal plays like hammers with long tales, at the bottom of a long downtrend, signifying capitulation. I don't jump in immediately, but wait for a few confirmation days before I stick my toe in. Inverted head and shoulders work well too. Conversely I look for the opposite when I want to short. Inveted hammers with long tales at the end of a long uptrend on an exhaustion rally, or spike, or a death cross, or an inverted head and shoulders. Those various configurations give me enough to scan and screen with. Oh, and volume. I like to see a million shares a day traded. I've got into stocks with less daily volume, but I prefer more volume to less.
I actually read that article a week ago.
The writer claims there "is more downside" to come. GNVC has held up nicely since that sell off. That big volume sell off was pure profit taking. Thats it. Keep in mind as well that it was written before the earnings report and conference call.
Also note, that article was one man's opinion. We don't know if the author has any back round in bio tech at all, it appears as though he is purely a technical trader.
He's about to be proven wrong in the very near term.
I agree with your comment that this author is about to be proven wrong, which is why I loaded up on some more shares when it pulled back.
Also, don't be surprised if we start seeing some analyst upgrades on GNVC who clearly missed the boat on DNDN, but now want redemption on this stock which shows just as much promise in these early stages.
That is a poigniant and foretelling article if its message is driven by the results of the actual medical science, rather than just the recent conduct of trading. And NOTHING indicates that it is. I can name about 10 longs on this board who probably know more about TNFerade than this author.