There is practically nothing on the ASK - 1200 shares total at 10 and above. However, there are about 9000 for sale up to 10 1/2.
Flyboy is crazy if he thinks he's a "pro trader". He's been 100% wrong so far.
As I said earlier, daytraders are churning this dog, long and short. Volume is dying. Price will eventually float down to 7-8.
I heard all this same tripe on the VPHM board when it fell from $70 to $22. All the same crap. They have $250 million cash, proprietary technology, other Phase 3's, early stage Hep-C, blah blah blah. How could a $110 stock fall this low? It's a freakin bargain. Buy buy buy. VPHM closed at $12 1/4 today after finding a bottom at around $10 1/2. Yes, it trades BELOW it's cash on hand value. So does CEGE. Both CEGE and VPHM are better buys here than PGNX.
If you don't think PGNX has further to fall, you are nuts.
beware hype and amateur stock analysts like flyboy
most pro traders know the 2nd day of a substantial decline in stock price is not the day to pick up a trade for a bounce. stocks usually drop another 10-15% on the 2nd day of such declines. PGNX actually was up 10% and closed neutral. this bodes well of the short-term technicals of the stock.
usually it is the 3rd-5th day that momentum is reestablished. look for $13-15 by end of the week.