Gap btw. 44 and 45 closed. Next number to watch is 47.50, the lower end of the gap btw. 47.50 and 52.25 created on 11/3. Currently the stock has broken thru 46 but is running into some selling pressure, presumably by some of those who bought on 11/3 after the big initial drop from 11/2 and were blindsided by the day long trading halt. A move above 47.50 even on an intraday basis would be bullish while a break below yesterday's low would be short term bearish. Vol is heavy as bulls and bears battle it out almost exactly inside the middle of the range established on 11/3.
If funds are available (i.e. if I haven't established another trading position) I will establish a pilot position if the stock is able to enter the gap above 47.50 today.
...They did the same thing to SMOD this past May - about half of the groups here were at SMOD. More than a month of multiple news items per day trying to drum up more plaintiffs. And they may be trying to make BSX uncomfortable - no chance. ...It will eventually stop.
...As for the impact of the lawsuit on BSX - don't worry. First, it will probably take more than a year to get to any kind of resoultion. Second, all public companies carry insurance to cover these kinds of lawsuits. Unless there really is deliberate wrongdoing on the part of the company officers, the insurace will cover all of the costs.
...The sad part of the whole procedure is that the shareholders who were "wronged" usually get back less than 10% of their "damages" while the lawyers pocket 30+% of the settlement (several million dollars).
Big volume on a multi-point move suggests a turnaround regardless of what news there is to come. I erroneously posted the lower end of the current gap the stock is in as 47.50. It actually is 47.25. I'm now long BSX looking to get to the low 50's (ideally above 52.25, the upper end of the gap) in the next 5 trading days.