By the way the bid is now testing, yet again, that intermediate term uptrend line I've got on my chart...the one stemming from the March 1 ~$8.81 level. It has been tested as support several times from that time to today. It's a line that looks to end the session just south of $10.75. So let's see how it plays from here....I just bought a trading tranche at ~$10.65...just a trade looking for a +10penny bounce. Bid $10.68
You may be correct. The volume remains light, but the action that is occurring is coming from the sell side, a continuance in yesterdays overall action. The bid just got spiked on small print "stuff" to $10.63. I think a test of $10.50 is setting up. So far the bid is down ~1.75% on the intraday..
Mikey: LOL! You probably do the same thing as me. I place on ignore, when I see them, every single ID that spams. I've been doing this for some time. Yet the flood of ID postings continues apace. You can color me amazed at the sheer number of permutations. Did I mention I've made it into a game? ;-)
Meanwhile session starts....bid $14.24 and catching some C inspired support?
"How come the FDA didn't halt the production of other drugs at the plant....?"
Ummmm..well...besides leaving aside the lack of palms being greased, heh.....errrr....my presumption is....what makes you think those other drugs are being mixed and manufactured on the same line as OPK's product? It ain't exactly like they're making cars off a line that can mix SUV's with compacts with sedans is it? Or a line capable of flipping from name brand to generic with an arrangement of different enveloping packaging. I suspect it's a bit more complex than that. You do, however, touch on the obvious. Since the senior exec's in OPK are well versed in their industries particulars you'd think they've have had the "script" well in hand for proper performance in front of the FDA inspection. But even the cleanest of environments can be subject to incidents....so see again my jesting palm greasing comments? Let's see what happens next.
Meanwhile, bid $10.78.
Spam. The scourge of the free chat thread environment. But the price for it being free?
Has anyone (else) noticed that whenever an earnings period, or news of note, occurs that the threads of the sector participants get flooded with it? I've got this on-going game I'm playing...and it's based on my presumption that all the various ID's actually stem from a few yahoo accounts. Why a few? Money is changing hands with Yahoo, so a need to track postings against performance would be a criteria (to me). This is my presumption but it's one backed by the kefluffle that arose between them and SA (Seeking Alpha), back when you'd see SA offered up as "Headline news." Apparently there was a financial falling out that led to SA no longer being so visible in that fashion.
Anyway, I presume the permissiveness in allowing the spam seen here, especially when you consider that when a poster utters a "fart" it's censored, is a consequence of money changing hand. But about that game....the game I'm playing is one where I'm "counting up" all the ID's trying to find a number. Exactly how many distinct ID's, how many permutations on a ID-theme, can one Yahoo account have, eh? It seems....endless? ;-)
Just some musing while watching the churn. Bid $14.23.
So what would be the term for such a Middle Class organization, eh? HEH!
It comes to this. Tell me, in looking around at the state of our Plutocratic privileged, vaguely aristocratic, elites that Unions don't, or shouldn't, act as proper counterbalance to all the abuses that seem to continually bubble up in our Capitalistic system, eh? There is no sense of fair play in the system now is there? It's all scramble and dog eat dog buyer beware in pursuit of self-interest. When at its rouge-ish worst, which is kind'a where it is (in reviewing the wreckage from the 2009 era).
I'll agree that Unions, just as with those Corporate Elites, is far from perfect. But perhaps the best system is one where you balance one aspect of imperfection against an opposing set of imperfections, with the fulcrum point of that dynamic being the possibility of perfection? We need Unions to balance the perfidy of the elite class and so find a healthy in-between (as a society). And if you think otherwise I suggest you review your U.S. labor history from the period when the Elites ran wild...it might disabuse you of your delusional beliefs concerning their "magnanimity
Ignore the noise? What noise? ;-) Pssst...bid $10.86 again. It certainly is getting ping-ponged...but the volume is light so take it for what it's worth...
Burnaka: Nicely thought out. And so far it's playing out as you surmized. 1.5hrs left in the day, with one day remaining in the week. Let's see how it ends the week?
Rpfla. The (horse) race track analogy is a good one, though I suppose you could say it breaks down if you examine it too closely? Anyway....the game has got much in common with it. You've got your bank. You've got your track form, or TA, articulating the merits. All you can do is bet on the possible outcome. It's a game of odds. Granted there's more to it...but in a broad brush sense there's a commonality. Especially in the "manage your bank" department. You never bet it all on one horse. The same, too, with public share companies. Never, ever, bet it all on one "sure thing." Because there is no such thing. But play the percentages...and you can do well. With a little luck, of course.
Meanwhile...speaking of horses....for a time there it looked like OPK was gonna recover on the "back stretch." But nope...not so far....it got muzzled and yanked back south of .80. And now the sell side is capping any upside by sitting there "fat" on the .80 ask. And the bid is showing fat at the .77 line, which is where it now sits. So the ping-pong is .77 to.80. I'm not sure how it'll end the day, but on the intraday we've a double-bottom formation setting up. Let's see which way it breaks.
Got my 10pennies on the short...closed it at $14.08. Was sweatin' it there for a time but sure enuf the bid rolled. Looks like the machines have ratcheted up the boundaries on the churn, though....from that ~area they pulsed the bid again to....now bac at $14.20. I didn't flip to the buy side to catch the ride because I wasn't sure it was going to do it. But here at .20 I'm again contemplating a short. I suspect it will pull back into close but....let's see...
Rpfla: Yah...like you I'm still holding a heavy BAC position established back in early '09. So you can color me (self) interested in the mischief that goes on with it. And GILD? Oh boy...that one was a gimmee gimmee GIMMEEEE when it went south of $90. So you can color me appropriately on that one, too.
The thing of it is....when you play this game long enough you should just naturally come 'round to the realization that all equities have moments of irrational overshoots. Both up and down. So....you wait for 'em. And there's no need to bet it all on one "favorite horse." You miss out on one so what? There will be another horse in a different race soon enough. So it all boils down to patience and the work of due dilly.
But I digress....if OPK goes anywhere nearing in hitting the ball that some have dreamed here....well.....2016 could prove to be a very good year for the equity, with current pps being ultimately shown to have been one of those downside overshoots? That's the gist of my play. ;-)
LOL! Nah...not unhappy. Just trading and playing the overshoots. Overshoots being an "agnostic" term applicable in either direction. I long ago came to realize that this game goes on forever, so why play it as if each "hand" is your last opportunity? It ain't. Some vest their whole world view on one play...and that's just a recipe for disaster....just play the probabilities and....to paraphrase and old (Grateful) Dead song...keep on trading on! ;-)
As far as it goes I suppose it should be? Just look where the Pooch was two sessions back...struggling at the $13 line. Bid right now? $14.27. Almost 10 percent in that time...nothing to quibble at, eh?
Nope....bid wasn't hit. The buy side threw up a wall at .75 which, so far, the bid has bounced off of. It bounced to ~.84 in the blink of an eye...which was instructive...then pulled back a bit again. Now $10.79. Did I mention I expect mischief today?
Maybe....BAC doing a "post coitus (heh)" smoke to the upside? I just had to take the bird-n-hand and closed all open gambits at $14.20. Moved to a sell side (short) trade here just playing the probability of a p/b. I've a stop on it a bit north of .30. Lets see what the Pooch does next. G/L!
Ummm....dead money? Define what you mean by that? Bid now .84. Just like that it's popped ~10pennies. If you're trading that ain't exactly dead is it? 'Course...I'll allow it's hard to trade such a thinly traded paper as this one. For robust trading you need scale, volume and churn. Take....well...take BAC as an example. ;-) But regardless...I don't see OPK as dead money. But this is just one perspective. And perspectives are like noses....everyone has one? ;-)
No change. $11 is strong resistance to any further upside. The ~$10.60 line represents support...which is probably why GS's lower bracket is currently sitting at $10.67. I'm sitting just south of .75 with a bid prep'ed to open a buy side trade to hold a couple of days. Given the current character of the intraday action I fully expect it to get hit.....it's all just a case of the usual low-volume mischief ahead of anticipated news clarifying what the market already knows. Bid now .75, showing large (12K) but getting hit...
Market is doing a low-volume walk-down of the bid. Looks like the set-up is to take the bid back into the .70/.80 channel it occupied a few sessions back...just low-volume mischief waiting on the outcome of all that's known....the mischief is those ~20K sell side spikes that keep hitting the bid over the last hour or so.
Nice basis. You should do well longer term, although I'll leave to you that definition of "well.' ;-)
In any case...here are some thoughts as expressed by the bank. Its accounting book value, or ABV, was $23.12/share at the end of the March quarter, up from $22.54/share, +~2.6 percent, from the end of December. The ABV is up ~6.7 percent from Q1-15. So things are strengthening.
Bid $14.04 and gathering some mo mo.