Do you really think that accounts for all of it? By far the most volume in 23 months. Additionally, higher than average volume for the last three weeks.
Highest volume day since 7/14/2014--the close was $1.83 that day.
Somebody wanted in badly--on one of the worst market days in recent history. Interesting.
Market makers held the price steady for most of the day. Seems very bullish to me.
In the absence of news, and with good volumes for two weeks, technical analysis is more meaningful. Virtually all numbers are pointing up for this stock right now. I confess, I have no idea why we’ve had such a good run-up recently. It has been very measured and orderly. There hasn’t been much "pump and dump” activity either. My guess is that we’ll get to around $4.50 and level off. That represents a great base for when we get some genuinely positive news.
Institutions buying back in? My quote from March 23 when the price was in the low 3's--"There are really only a few large institutional holders of CDXS. Most of these funds, just like the rest of us, would like to make a profit in 6 months and not 3 years. CDXS may be dead money for a while, so they decided to put some of their money elsewhere. Watch, these same holders will be buying back in when the price is $4.00."
Despite the long quiet periods and low volume, I guarantee CDXS is being watched by numerous institutions.
A favorable day, in my opinion.
We were at $3.00 per share a few weeks ago. We've had good volume at $3.50-$3.90. We had a 98,000 share block at $3.70 today. Buying interest/volume definitely dwindled above $4.00--we were due for a pullback.
There is definitely interest in this stock. However, as I've stated before in some of my posts, I don't believe we will have any game-changing news until late fall/winter. If you are impatient, you could consider selling now and buying back in 4-6 months. However, there is a risk you might miss something big.
Don't forget, CDXS will be in the black for two of the next three quarters. I think that fact will attract some new investors.
Good luck to you.
Thank you. It's always good to hear from one of the few long-term investors on this board.
Regarding my purchase at $3.11, I never pat myself on the back until the money is in the bank. I did feel that CDXS was way oversold at the time. Today, it is pretty overbought. I would not be a buyer until it pulls back a little--maybe $3.50-$3.75.
There are days when CDXS tests my patience. I see other stocks racing higher while CDXS does nothing. Then I remember those royalties from the "blockbuster drugs", probably starting in 2018. Our CEO used the term, "remarkable".
I will wait until something worrisome has happened to the company before I sell. Or, I will sell when the share price is over $20--whichever comes first.
Best wishes to you.