% | $
Quotes you view appear here for quick access.

Synergy Pharmaceuticals, Inc. Message Board

  • a12watchnow a12watchnow Jun 18, 2013 4:01 PM Flag

    Trader what do you see?

    Curious about your assessment of the past 3 days

    Sentiment: Strong Buy

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Shorts still here and will be for awhile, but they put a wall up at $5.10. Hmmm... perhaps that is their average cost after all. These past three days saw Mr. Cerrone step up to the plate and build investor confidence in the stock. It set the third bottom and a single 50,000 share market buy order at 12:08 on Friday reversed the selling. Shorts worked hard the remaining four hours of that day stopping a run upwards -- damage control for them. Monday, news from the most conservative rating agency, Citigroup hit the stands with a BUY and TP of $8.50, which reinforced investor confidence and saw new investors coming in at a deal of a price. Shorts still expended a great number of shares holding it under $5.00. Today, after several opening bell dumps of large block trades (shorts trying to paint the technicals?), there was incessant buying pressure throughout the day until the price reached the $5.10 mark (Citigroup news?). Some profit taking by short-term traders took place (the trader who bought the 50,000 shares on Friday using the UBSS ECN?), allowing shorts to walk the price down into the close. Ironically, I did see some 30,000 share buy orders go through during the day, which could be institutional support, or perhaps new positions? Market in general was up today, so its hard for shorts to justify running the price down. Tomorrow is another day and we are a good distance from the bottom now. Shorts are much closer to their cost basis, which leaves them little room to cover. They are concerned, so they'll be out there in force trying to push this down, but if interest continues, we'll see higher prices. It all depends on their tenacity. I've always said they have the might to take this to $4.00 if they wanted to; it would just take them a million shares to do so.

4.920.00(0.00%)Oct 27 4:00 PMEDT