It took 2 years - April to April from all time high to all time low. A fibbonacci golden ratio retracement over 8 earnings reports is not a bad timeline or expectation if things are managed well.
Sentiment: Strong Buy
Be patient...very patient. I'm with ya. Support from other longs helps. If you sell on a double you will miss out on a quad as true covering will only begin after a double should fundamentals dictate that.
Volume was OK but still less than the average. Red rump day overall but it should be expected after a 15% up move with profit takers and panic sellers. The next up move, when it comes, should take out 7. Holding shorts overnight is not advisable.
They are getting enough frivolous lawsuits already. Good that they don't do silly press releases. The new short traders from 6.90 to current prices are welcome additions as they will drive it past 7.0 by covering and going long when the real news hits. Lower your cost basis with patience.
The third leg up is only half way done IMO. Don't look from mid-August but look from mid-April. Look at trees long enough, you'll miss the forest...
PCYC's darkest days were in the March of 2008... biotechs usually have such breathtaking ranges. With rare earths, a good management and great turnaround plan are key with macros cooperating - revenues and high institutional ownership will follow.
Interesting tussle on dips - both shorts and new longs are interested in it! 2 years from now, 6.50, 7 or even 8 would look like a flat line.
I watched LVS and DTG (now DTGF) start to retrace right in front of my eyes in 2009 for the next 2-3 years without me taking any action on it. It was a cold, kick to the nuts learning experience after owning 20 odd K of LVS at ~3.10 and flipping too soon.
Next up 15 DMA, if it gets to 7.75 area with equity price action at 8.50, makes a beautiful wave! Firmly believe that only a news release can do that...
No problem, good short term call - holding the trendline is important in these ranges here. Broader turmoil next week could be decisive though. Gotta be ready for a whiplash bounce.
What a serious annoyance with all his incessant posts..., seriously! Can't imagine anyone 'carpet posting' without being paid for it.
If it trades in the 7s this week, mid 8s in the third week of Sept is a possibility. China mining news and the facility update will do it.