I can't find any rational explanation why VRTX has steadily but relentlessly dropped. Can anybody shine some light on this? Such a shame to see a promising stock like this get battered for no apparent reason.
The initial drop was caused by the prospect of competition from Schering's similar product.
For all of you tekkies out there (of which I am one), take a look at the Fib retracement from the low in early March, to the high at the end of July. The August pullback took us, roughly, to the 38% line, and the stock now appears to be rebounding. (Up over 2% during normal hours today, and again up 2% after hours.) In other words, a perfectly normal retracement after a large jump from 14 up to 35 in the space of a couple of months.
Only reason that I don't want to rate this as a STRONG buy right now is because of the overall market. The DOW index is showing the OPPOSITE retracement...the rally since mid-July has retraced to right at the 38% Fib line - and started dropping from there again. We might be looking at a W bottom...or worse. I'm pretty sure we're going to see 10,800 on the $INDU in the next couple of weeks. The NASDAQ just put up a lower high on the weekly charts, as well.
I'm not going to be comfortable buying anything outside of oil/commodities for the next couple of weeks!
I use QCharts, which is now owned by esignal. I don't use the latest version, 6.x though. I still use the older one, it allows me more symbols for the price. Perhaps I should load the 6.x and see if it works in there.
yeah, that's where I looked, but glad had one from yesterday that had a different number of shares, that's the one I was looking for. The platform I use used to be very good but now I constantly get script errors.
The 12,400 of course is an exercise (buy) and distribution (sell), so his net holdings have remained the same.
The best source for this stuff is sec.gov. Go to company and other filers and then put in VRTX or whatever symbol. The latest filing for Boger there is
Not a big deal at all. He acquired 12,400 shares through an option and sold them. This all in accordance with a preapproved plan.
More importantly, he still owns about 1.2 million shares in three accounts. So, he holds 1.2 million and sells 12,400. So what.
Speaking op options, I grabbed 10 October 30 contracts at the low today.
ok.......and no, it isn't as good, but that's neither here nor there.
I posted a while back that at least a short term sell signal was generated on the break of the 30.50 area, which was swing low support on the Gann 3 day charts. When stocks break that Gann support, they are normally weak, and this has been. One reason why I prefer to focus on charts.
Just as there was no particular reason it went from 13.5 to 35, there is no particular reason why it is now going down. That is why you have to sell when it is up and not try to find rationality when there is none to be found.
It may be due to the initiation of phase 3 for non responders. Investors may have assumed that an nda would be filed based on phase 2 results and thus the initiation of a phase 3 may have signaled that the FDA would not go along without the phase 3 results.
Also Bogers filed to sell 126,000 shares but I do not know if those are exercised options or are shares he has held from before. The high sales announcement may have spooked some investors. But anyway, who knows why a stock reacts the way it does. All we can do is guess .