Sorry, forgot to warn you guys last week. Death Cross chart on YMI
Everyone seems to hate DN, which is funny since he's usually right and seems to be the only other one that understands technicals...it was very important for us to stay above 1.60 today, and we didn't. The next support is indeed 1.03 if we do not correct tomorrow. If we close red tomorrow, I'm selling. It would be foolish to hold
The stock has been collapsing on higher than 1 million per day volume. Technicals aside, i think one or some funds are liquidating, perhaps based on lack of conviction in this stock, knowing something others do not, or wanting to be out of biotech at the moment (although i note that YMI is down much more than other biotechs i follow over the past several days). i'd say the move is specific to YMI. Several on this board have faith - especially going into ASH. I have much less but i hope to get a bounce at some point to sell and avoid a $100K loss on this one.