No, we need to hit that level and stay there. If the volume dries up, the shorts will reappear. To get to the crux of the issue - we need institutional investors (those that accumulate very large positions) to get in. The little retail buys here and there just aren't enough to keep them at bay. If you can get the guys with big money buying, the shorts become irrelevant, they start losing money and they go away.
carpediem what you feel now (and your not alone) is exactly what the shorts are trying to make you feel so you would sell. This is biotech, there is no eps or book value to give us base support. Prolor is still a dream stock. We sit back and wait, we are used to it by now, and in a
At the end of the day, it seems it is more likely after today that in a couple of years we will be enjoying the money we made from Prolor, while most of the short-sighted shorts, who are playing a much riskier game, can celebrate today, and tomorrow, but most of them won't be in the game in a couple of years.
We are playing this game the right way, so just go outside and seize the day for now.
We are only experiencing the "retail" reaction to this news, and as John said it is the shorts taking advantage of the low volume. IMO once the news is digested by institutions/funs we will see a big increase in volume and price increase. Going into Phase III this company is worth $10 at least.
I can almost guarantee you this is all shorting. They saw that there was no appreciable volume increase and took the opportunity to slam the price. We need 300k plus daily to stop this in my opinion. Anything less than that is manageable and they will continue to put pressure on the price.