Per my point of view, the support is at $ 1.80 to 1.81. The reason being is that most of the shares have churned at this price during the last spike, remember there was 29 million shares and then a week of millions of other shares always around that price or higher. The average cost of the shares for the average shareholder is about $ 1.80, so these people have no incentive to sell at a loss and this is why there is support. As it hits $ 1.80 or lower, there are no sellers at all. When it goes close to $ 2 there are those whom grab their 20 cent profit to leave.
The chart itself has broken out of its trading range and there is a vacuum to be filled to $ 3.50 range.
Also people buy before events occur and not after. So speculation, solid support here and pending catalyst make it possible for nice year-end rally if Fed Panel Date is announced.
Here are my two cents worth:
We should be hearing of Fed Panel Date Announcement shortly. I suspect this will provide more clarity going forward as we have a firm date which is a BINARY EVENT. Rally to $ 2.50 to $ 2.75 would not be out of the question.
This morning on December 17, 2013 oozhe22 was BASHING like crazy. HIs hedge fund used about $ 100,000 in seed money to throw away as they dropped price at the open from $ 1.85 to$ 1.76. They hoped to trigger a drop as the HEDGE FUNDS are net buyers here. The strategy backfired and now they are out $ 100,000.
Isn't nice to be on to them?
FDA Panel date to be announced soon, which will cause a ROAR and RALLY so hang on and buy if you are not in.
Whether you have a position or not is irrelevant. You have made defamatory and accusation statements against the company. You have damaged their reputation and strained their relationship with FDA based on false accusations.
You crossed the line when you accused them of FRAUD, DECEITFUL, LIES, CHERRY PICKING DATA, FUDGING NUMBERS, HIDING DATA,CLASS ACTION SUIT ETC,,,
All a law enforcement has to do is print out your accusations and ask you for evidence. Since you have none, you will be found guilty pretty easily.
If I were you, I would tone it down, apologize for your misrepresentation and move on to another board before you ruin you career or retirement. It is not worth it.
Have you seen his accusatory and defamatory comments he has against ETRM?
Investigation means criminal so whether it be SEC, FDA or the Police itself, he will soon find out. His fake id won't be able to cover him much more.
Whom would have asked for this? It could be some longs, it could be the company, it could be FDA or SEC itself. You know, some longs may actually work for law enforcement agencies.
He shouldn't be surprised.
It is obvious he had an agenda especially when he says he is not long or short. At least I had the courage to say I am long and price I bought so any new investor knows my motives and why I am bullish.
Finally!!! The FDA should have been looking into this guy for a long time now with his slanderous, defamatory and accusatory statements without evidence. I was surprised to see ETRM sit on this for so long but I guess they had enough, especially when accused of lies and fraud, and speaking on behalf of FDA.
KARMA is such a beautiful thing.
Biotech stocks have brought me the greatest returns. I do invest in other stocks and industries however for reason it is biotech I understand the most.
The SAFE PERIOD to invest in biotech is prior to FDA meeting or FDA Panel meeting as speculation of an APPROVAL will heat up. It is the BUY on the rumor and GREED dominates.
I remember I had bought Dendreon at $ 3.50 awhile back and they were awaiting phase III results of prostate cancer and all indications were they were going to hit the numbers. Clinical results were great and stock soared to $ 24 per share overnight at which time I sold for nice 700% return however again I sold too early as FDA meeting to APPROVE had not yet occurred. Over course of the year and prior to FDA Approval it went to $ 53 which would have given me 1500% return instead of 700%. So we live and learn.
All I can say is ETRM is illiquid stock and is sitting on a device which will be sold in obesity market which is a MULTI BILLION dollar market and fits a need where there is a serious VOID. Also we have a friendly FDA and OBAMACARE forcing coverage so ETRM is at the PERFECT STAGE.
Now you either LOAD UP and CASH IN from what I see, as I saw in others, or let the likes of oozhe22 and penny_dreaddful discourage you and you will only realize when we hit $ 12 per share.
To date, I have been right on this stock up 66% now and, oozhe22 or penny_dreaddful has been dead wrong.
In March or April 2013 of this year I invested in CSIQ (Canadian Solar) at $ 3.75. I saw what others did not a parabolic rise in price in 2nd half of 2013. I sold at about $ 8 per share. The reason I did was that there was some dummy the equivalent of oozhe22 or penny_dreaddul that created some momentary doubt. The stock soared 1000% in 6 months to $ 33. Did I feel stupid listening to that paid basher on CSIQ.
In June of 2013 I invested a large chunk in RMTI (medical company) at $ 3.75 as I saw a parabolic rise in that one too. The stock rallied to $ 5.75 quickly then gave up a little and at $ 5 I sold. Again another dummy on that board telling me RMTI was fraud, clinical results were no good, no approval putting doubt in me. The stock went on to rally to $ 16 per share a 400% return in less than 6 months.
When it comes to stocks I know how to pick them except on occasion I lack the courage to hold to the end. This time I put a stop to it. I bought ETRM at $ 1.14 per share and although rally to $ 2.25 was a great return I told myself is no where near the parabolic rise I see in this to $ 12 per share or 1200% return.
What makes me bullish is that VBLOC will fill a void in the market. 33% of USA citizens are obese or about $ 100 million people. These people have 2 choices to date. Dangerous diet pills with serious side effects or staple your stomach again with serious side effects. VBLOC fills this void, it has a great safety record and provides additional benefits for diebetic and hypertension plus it results in long term EWL of 25% to 30% versus 0% if nothing is done.
In terms of revenue and profit. The device will retail for $ 10,000 and surgery $ 10,000. OBAMACARE requires insurers to cover obesity, it is the LAW. All it takes is 100,000 patients per year and we have $ 1 billion in sales and $ 2.13 per share in profit. 100,000 patients in peanuts when market is 100 million people.
So LOAD UP before others wake up.
The protocol was for 12 months and data on efficacy and benefit versus risk showed significance. This is public information. The 18 month data showed durability. The two put together equals to approval. As a matter of fact the durability shows that the advantage VBLOC has over placebo becomes greater and, the 10% threshold mark was hit at 18 months.
What the FDA wants to see given that 12 month data did not hit endpoints was to determine if at 18 months there was still benefit or not. In Austrialia there is benefit at 30 months so approval is in the bag.
Over time VBLOC becomes more prononced, which is all FDA wanted to know.