We had a technical convergence that was set up last week and we also had a gap up to $14 that needed to be closed. With this action, we also probably saw a little short covering.
Their article had a backfiring effect. Longs ran it up, caused the shorts to cover a few week hands and stole their shares. Haha
Looks like the timing was perfect. The charts said bump and it did. That's what happens when higher lows meet up with a constant top. My sell price was executed now I await the next drop down. With no news and light volume this will correct again when broader market takes a pause. It could be right after hitting 17,000 or due to other economic reasons.
Do you really think they will be allowed to stay invested that long with margin calls a ringing??? They will be bailing before we make a new 52-week high with the hopes of conserving cash for the 1% chance that the FDA lays an egg in September. Then they can hit it hard.
More stupid BO talk from a novice! You really aren't worth the time but I feel the need to explain the error of your thinking: First with no approved products in market to date, why would BP take a chance on a company before it gets approval? Would you shell out billions on something this early? I know your comment will be they can get it cheaper. Not really the risk/reward is how BP invests. They want proven commodities that can make money down the line for year to come, not an up front discount with a high risk/reward ratio. Next, just because a drug gets approved, doesn't mean it will be a block buster let alone a winner. Only time will tell and the marketing, manufacturing and partnerships mean an awful lot. I could go on but you are not worth anymore of my time. Hope you see clearly now.
First of all, who asked you to write your column? Second, they use a very negative tone in the title but for every negative thought, they offer the positive counterpoint, why if your point is to slam the stock? Third, they are repeating concerns that were raised months and months ago so it's just a timely article to knock the PPS down early next week as we approach options. These type of article are always self serving to someone on the short side. f no one sells their shares, the article will look foolish if it isn't able to derail the stock somewhat. Shorts are desperate right now. They see the stock creeping along a little at a time due to lack of volume. In their article, they state that shorts have 30% of the shares. the last time I heard on the MB, tutes were over 90%. More deception. These guys are jokers at best and know nothing except how to slam stocks. We'll see how thing shake out next week but since we did not at least hit $13.85 again, the stocks legs may be getting tired here. Broader market once to get the DOW17,000 in the worst way so it can start it's summer correction. We will see 17,000 on a quick pop one day so it gives CNBC something to talk about for hours but I m looking for a retracement to 16,200 by late summer. That's about 5% which is healthy going into next fall.
Three day chart is stuck around $13.80 and has increasing higher lows. This is another ascending triangle formation like we had a week ago when we went from $13.20 to $13.80. Figure next week we will see the next jump up. With each leg up, more pressure gets applied and more shorts have to start covering little by little.
Don' t think there is many left. Tutes % of ownership is quite high already.
Here's what he needs to say. The FDA has everything it needs now and we expect a decision on or before the 7th of Sept. We also have learned from Japan that sales are gaining traction and the product is being well received. We are excited for our FDA review and even more excited about our chances of gaining regulatory approval in Europe as well. That would be worth at least 5% if not more.
I tried to warn you newbies about what may happen once SA published an article. They are bad people and have no one's best interest in mind but the low life MM they get hired by to write the obvious. This of you that got in late yesterday or in PM today, you are screwed! The shorts will drop this so fast back to $9 and it will be weeks before you may break even again, assuming no bear raid the week leading up to approval. B careful here. May want to take the small loss, use it as a lesson and buy back in at $9.
Come on 0.00001
What pumper you are. Is your milk money tied up in this stock? You sound pathetic in the way you just love this stock. I gotta puke....