Bruce Kovner has 29,891,800 shares of Synta . Its value as of today is $129,300,000.00. That's alot of money even if you have billions. I was only trading this stock ,made a decent amount of cash . I now invest in this company ,I don't want to get locked out by trading the stock and miss the ride up . I did my DD the stock looks great and the potential is astronomical . I'll take the daily ups and downs of the pps because the rewards can be life changing
It's fine for me, I don't worry. I brought the first time at 5.55 and the lost a lot through the night when it went down. I didn't panic as I did my research and believe in the potential of the company. I kept buying on a dip until 3.93. I now no longer have to wait until 5.55 to get even, what ever is above 4.38 it is pure gain for me. That is why I am even happy if it goes down again before the news, because I can buy more and make even more money later down the road!
SNTA keeps backing and filling because the shorts are trying to ease out but are still in control of the price until substantial news breaks it out.
I believe this pattern will continue with next resistance@ $4.57 then backing and filling then resistance @ $4.90.
The interesting thing will be whether the heavy shorting continues until Q1 E/R on 4/28,taking the chance that there will be no substantial news or whether the backing and filling will continue.
I absolutely think there is no chance to see $4.00 again