With institutions owning over 84% of the float (and rising), the hedge funds, which hold most of the 6.8 million short-shares, HAVE TO buy shares held by individual shareholders, in order to cover. Here is the technique they use.
1. They raise the stock price by a little (by buyibg).
2. They try to induce selling from shareholders by selling a large number of shares quickly.
3. As traders, shareholders, and individual shorts begin to sell, the price drops further. While the selling propagates, they begin to carefully buy without raising the price.
4. The process is repeated until they see that the number of sellers drops significantly.
5. The process is attempted after every news that might be perceived as negative (e.g., the convertible note issue, etc.). They probably use bashers to try to DECEIVE shareholders just before and during the attempt to induce panic selling.
This process was clearly used in several such attempts in the past. It counts on investors that SOLELY use TA and EMA-price movements for sell/buy decisions. Since these investors ignore the HUGE fundamentals of SCIO, they are quick to succumb to such manipulation.
Still, careful investors can find great opportunuties to buy during such dips. After all, NOTHING has changed about SCIO's fundamentals. AND its HUGE future looks BRIGHTER than ever.
Well, I think you said it. While scio may technically be a one trick pony only having natrecor, natrecor on the other hand is definately not a one trick pony. It seems that looking at it that way, the thoroughbreds are still arriving........
Congratulations on your profitable trading. Are you currently short SCIO or looking to get back in at a lower price?
I have no problem with you expressing your opinion here, but I too am curious about your reason for hanging around. Your posts early today were quite balanced. My guess is you have no current position but are thinking about taking one.... correct?
You sold months ago and you are still posting - why??? You are the one that needs to get real because everyone here has your number. Forget trying to influence people here to sell you are too well known for your bullshit. Sharon