Refresh my memory; have any of techtrader's suppositions ever come to pass?
If not, then the law of averages may be catching up to him. Even a broken clock is right twice a day (unless it's a digital clock, of course)
....a buyout at this point is possible but not probable. My guess re: a partnership is that big pharma is playing hardball. Good clinical results will alter the playing field...in snta's favor. Then snta can play hardball. Until that time..minus a partnership...probably a slow drip downward.
I would guess that the pump and dump into earnings trend is stronger than any technical trend.
I'd actually consider going long every time we get two weeks before earnings and selling ahead of the call if the thought of being long Synta didn't make me feel so icky inside. Might consider some more puts if this gets pushed back over $6 though.
There certainly seems to be forces at work pushing this up. Perhaps we have a mutual fund setting up a position in SNTA? This type of push though is very indicative of positive trial news leaking. There was an article recently noting that companies over 300 Million in market cap in a Phase 3 trial generally receive drug approval, those under 300 million market cap don't. Today SNTA stands at $225 million. The theory being that people involved in these trials talk, and that data makes its way out to the individuals that will undoubtedly trade on it. If there's an approval in the works for Ganetespib we'd expect the price to climb towards $6 based on this theory.