Handregister, I don't want to start up with you. You seem like a reasonable person ...albeit with a unique trading approach. But, to be accurate, I think we've established that you called the top at 85, on Feb. 18, which you, of all people, should remember was the 13'th anniversary of a previous top! I don't know how wide a following traderflorida has, but he was basically telling one of his followers that this was not a good entry point for PCYC, rather than calling a top. Personally, I am suspicious of someone who trumpets repeatedly that he is operating from the Cayman Islands. As Mitt Romney demonstrated, you don't have to actually GO there to screw the IRS.
Well, I'd never heard of this guy who apparently tweets trading tips while letting you know that he's in The Cayman Islands. His video today seemed to be urging people to short the stock at 1pm because, he said, today's gain wouldn't hold. But it did. I still think anyone who trades pharmas on the basis of the charts is disregarding all of the exogenous events which can move these stocks quickly. If, for example, today's announcement of ibrutinib receiving "breakthrough thereapy" designation in CLL with the 17-P deletion caused an analyst to announce an upgrade tomorrow or raise the price target substantially, I think that we would see today's shortsellers cover quickly. Basically, he said he was advising a woman who was looking for an entry point in PCYC against entering here. We will see.
Respectfully your post misinterprets what was said. The "gains today won't hold", he was refering to the previous point of the massive selloff that has become resistance around 80-82 . Today the stock was sold hard from that level all day long. Attempts to break that level have failed three times now, the 1.2 million today was not enough, you'd need 2 million, just not enough volume to replace the volume coming out of PCYC so it is setting up for lower prices. Regarding analysts upgrades, well we've already seen an analyst at Wedbush raise a target when the stock was 20% higher, doubt any announcement can stop PCYC from falling. Here's the point, all the buyers who wanted PCYC have already bought, all that is left are sellers, this is how the market works. When you recognize and understand how volume affects price then you begin to understand how the market works. Protect your gains & capital, there are plenty of stocks showing positive trends, PCYC has topped out pure and simple.