I added today as well as we are going to get both a higher high and higher low today as compared with yesterday. I am back in with 30% of my profits of closed trades though, not sure we bottomed.
You've done so well so no need to worry it will run away from you. Take a position that you can tolerate downside to avg down again. I have seen short interest control small biotechs for long time periods.
You won, enjoy it.
I won, I am going to enjoy it
I bought a few thousand shares at .83 recently and considering avg up. It's .99 now, any other s holiding or buying that one. I am thinking bigger position here then take cost out at $1.50 and let free shares ride.
When it went from $1.50 to $6 were longs desparate to sell, not me. Now it goes from $11 to $6 so why would shorts be desparate. With these biotechs the trend is usually your friend.
Avg daily volume was about 100k shares before the explosion.
At 2 mil/day that s still 20 times
Short interest up 10x to 1 million, but 3 days after the Feb. 13 were heavy voume and over 10+ days so more shorting has occurred while some covered.
Weak hand newbies continue to get stopped out daily with these drops.
You owned this company since 2010 so you didn't play it perfectly. Like me you had faith in the product so you kept avg. down when .33-.35 pre reverse. It took a pop to clear breakeven and then some real profits were made on that rnove to 10+ but lets be real. I had trades go up 500%, but net basis only up between 100-150% lifetime.
To me it looks like the stock is forming a symmetric triangle pattern and it is trading in a smaller range on lower volume each day as well. Not sure which way it will break that triangle but either way will be a big move when that happens.