Moving market price up or down to where they want is a very provocative and disheartening statement. Can you recommend something to read so someone can understand how this is done? I have looked at the Nanex site you have mentioned and all I get from there is that placing many orders a second and canceling them before they go in is one technique, as is asking for many quotes a second to clog things up. But how does it work? Why should this move the market? Another problem with the Nanex site is that his explanations are almost totally just graphs. Most commonly he shows a graph of a fast moving market anomaly and at the same time there are thousands of these orders and cancellations. The conclusion then is that one caused the other, but I can't seem to get how did the one cause the other. Your advice would be appreciated.
I don't know if words have power anymore, but is impossible to imagine anything more eloquent than what you have written. Beautifully done.
Yes, the Abigail Alliance is a great group - founded to put a blow torch under the FDA and get it to act in some sort of reasonable time scale. Are they backing SAREPTA now? That would be very positive.
There's no news. It's just the short hedge funds ganging up on SRPT to push it lower. They work in concert with each other which is a little dangerous as it is illegal, so they don't do it all the time. They generally wait until there is some precipitating event (like today it is the general stock market drop) and then they pile on for all they are worth. The result is usually similar to what we see today - Nasdaq down 1.5%, but SRPT down 8%.
Could they be stalling to support their contention that they need a larger budget?
Market makers in league with the big hedge fund shorts will do naked shorting when the time comes, but they generally wait for some precipitating event to push the stock downward before they all begin piling on. That's how we have the big price collapses. It's a money machine for certain hedge funds. It probably doesn't help that the hedge funds have bought a seat(s) on the board of directors so they know the true impact of any news before it is released and can trade appropriately.
There's also a rumor that the Martians are about to invade.
Opening up Europe before the USA is a good idea. It's about the only thing I can think of that would shame the FDA into moving more expeditiously.
Analyses like these make this board interesting and thought provoking. Micro, thanks for your beautiful analysis.
I wonder how they got so many boys to participate. I'd been thinking that reason for the small number in our trial was difficulty in recruitment.