That, and a lot of short covering. The volume of OTM puts spiked hard.
Looks like there were two pieces of news that directly and indirectly affected HIMX. AU Optronics beat estimates by a large margin and then we had the 2Q GDP figure for the U.S reported at 4%.
The applications for Glass are endless. Even tourism will benefit. As the tour guide escorts the group around the premises, Google glass will interact with the object that the wearer is viewing, highlighting certain features and displaying further information whether it is historical facts or geographic features.
I remember a time when you were labeled a geek if you owned a desktop computer. Now, you aren't cool if you don't have a vibrant Facebook and Twitter account. One thing we know is that people warm up to technology. And people will warm up to Glass-like products eventually.
Eventually, I expect these Glass products to take off. I expect text books as well as other reading material to be loaded into these products and viewed by students. They could also simulate 3-D environments where stereoscopic images are required for learning, such as trigonometry. I think we're on the cusp of a rather significant change in applied technology and Glass will be at (or near) the forefront.
Based on volume, it looks like EDAP is going to blow through 5.90 like a bullet through cardboard. After that level we're looking at a blue sky scenario.
I've been watching the volume as much as the price. Today there were roughly 7.5 million dollars worth of transactions in EDAP and we finished very close to the HOD. Also, the last transaction of the day was for 6.2k shares. There isn't anything technically or fundamentally going on here that isn't bullish. And what's more, the market cap is still at a measly 130 million.
@Sheffstation has picked up on EDAP. 128k thousand Twitter followers on a protected account and has a members-only board on iHub. Sheff exclusively plays biotech and medical device stocks on a TD Ameritrade account worth 2 million plus.. Now that EDAP is on his radar this brings another bullish element to the action. Looking fwd to July.
One thing EDAP has going in its favor is a float of only about 20 million shares and a total O/S count of 24.8 million. This is very rare for a medical device or biotech company to have such a low share count before their first FDA approval. The increase in volume is a sign investors are gaining awareness. The rest of June is probably going to be mixed in terms of up and down days but July should be interesting. I think you are right about volume being an indicator.
Looking at the 5 year chart, EDAP has historically had resistance in the 4.50 area, with a brief foray to six dollars. It will be interesting to see if EDAP can push through this area prior to the FDA date and close above 4.50 for several consecutive days.
One thing DNDN had going for it in the "hype" department was that very few investors understood how the treatment worked and what it's potential was. EDAP is much more straightforward so there is less speculation. That is one reason why EDAP won't approach DNDN's market cap anytime soon. Maybe in several years if the technology is adopted worldwide and a clearer picture of revenue and usage is determined.
What's obvious is that the Middle East will always be a powder keg that affects the world's energy prices. It is now evident to the layman that those who are the most barbaric among them are more powerful and well connected than was previously known. Today's gold action is the first leg in a movement where the markets begin to change their expectations for the future.
Wild card: Janet Yellen used the words "highly accomodative" more times today than I could count. And equities responded as they always do. The 10 year yield retracted slightly while all three indexes turned green. General bullish case for stocks and EDAP.
There are some large blocks of shares showing up every day on the ask. But this slow and steady rise of the PPS is a sign that the accumulation you'd like to see going into the FDA panel meeting is taking place systematically. In the last five days we've been trading in a very narrow and well defined channel. Technically and fundamentally bullish here.
Basic science has rapidly progressed in the last three decades and that is accelerating applied technology in the medical field. The last generation of doctors are no stranger to changing treatment regimens whether it is palliative, prophylactic, interventional or otherwise. What will matter most is the data pertaining to outcomes from competing therapies.