..just dropping in ---
why is VRTX in the red? I didn't see any news or reason. It Looks like low volume as well. It doesn't make sense, especially seeing that the rest of pharm/biotech is green following the DOW and NAZ.
Can anyone fill me in on what I'm missing?
Glad, thank you, I feel the same way.
Truth be told, even though I always follow the chart, right now, I would rather see data/analysis, etc. I think there may be a conf. call to coincide with AASLD if I remember hearing correctly, so it will be interesting to see if there is anything new. We may also get more info from SGP.
<<I am done with this. A long arguing with a long (?) over a short term move is not
I totally agree with you. We should have debates and even argumeents about the good/bad points of solid info and data about compounds, company's management and finance and other similar info. However when it comes to TA arguing too much about the fine points of interpreting TA with those who disagree is just waste of time. I myself welcome any TA data and interpretations but the arguments about who is right or wrong is irrelevant to me.
Again, you are missing the point, so this will be my last attempt.
I posted the stock was in a corrective mode, and identified the most likely wave pattern. The next day, people seemed surprised the stock dropped. My point was, it is in a correction, don't sweat it, it was anticipated, whatever little nuggets of news we think should move it, don't necessarily, and don't be disturbed when it doesn't.
And, I never claimed the call was remarkable.
I am done with this. A long arguing with a long (?) over a short term move is not logical.
I am not trying to convince you. According to your theory, everything's noise. YOU could contend it was not part of a wave, but unless you have studied Elliott wave, you cannot debate it, as you don't know anything about it. One thing you don't debate, is that I posted my opinion of where the next short term move in the stock was going based on EWT, and it happened just like I said. And no, I am not always right, no one is. If it hadn't been text book, I wouldn't have posted.
Geez, imagine if I had been wrong LOL!
p.s. even noise is part of wave structure.
and, again, you miss the point. The point is, don't try to assign a move to the reason du jour.
I didn't see that, but I guess I am not surprised. Light volume does seem to bring about volatility. I guess your reason for buying more is definitely different than mine and everyone elses.....seeing your success in the MMPD trial. Let us know if you achieve SVR, I hope and pray you do.
Have you ever noticed that sometimes when little volume is posted as traded, a small block of shares sold can drop the price pretty far? I saw it the other day with just 100 shares sold. In since $9.83 and also looking to buy more
I posted last week (or maybe before) that VRTX was in the middle of a complex correction based on my Elliott Wave Interpretation, and so far, that overall pattern is still intact. In fact, today the stock hit the .786 retracement level of the prior decline, which is about the maximum one would expect for a corrective rally of this nature. The corrective rally extended into a double zig zag, which looks to be complete. A further decline of either 5 waves, which would comprise the larger wave C, or 3 waves, which would complete an WXY pattern should be the next step.
<< A further decline of either 5 waves, which would comprise the larger wave C, or 3 waves, which would complete an WXY pattern should be the next step. >>
Just when you think that would be the next step, you discover, to your surprise, that VRTX rises sharply.
While most TA methods are arguably reasonable tools to identify trends in most mature stocks, they are NOT substitutes for pipeline-progress analysis in biotech stocks. For example, NEWS RELEASES regarding VX-950 have driven UP this stock far beyond any indication obtained from TA methods.
The same can be expected in near future -- NEWS RELEASES WILL BE THE MAIN DRIVING FORCE with increasingly more pronounced effects on VRTX. That's because VX-950 has demonstrated such a DOMINANT EFFECT on HCV infections and is therefore expected to TAKE OVER THE MULTI-BILLION-DOLLAR HCV MARKET.
The rest will be history soon.
Think about it -- VERY VERY QUICKLY!