It actually opened high, above 32 and quickly spiked down. Gotta be something to do with the options I'd think. Apple does the same thing.
Home Depot also dow component. no weakness there! this is options manipulation and China growth scare imo!
new drugs in the pipeline, guidance, etc.
Let's hope a second shoe doesn't hit the floor.
...July 28 (Reuters) - Air China Ltd ( AICAF )
* Says plans to raise up to 12 billion yuan ($1.93 billion) in private placement of A-share to fund acquisition of 15 Boeing B787 aircrafts, projects and replenish capital
* Says shares to resume trading on July 29
They seem to be going through much organizational changes lately. Will be interesting to see how this plays out.
I just read that Street article. Very negative. Told people to avoid buying Biogen shares. Ouch! I haven't seen that very often. Maybe he is short the name.
I just hope they don't play the BIIB against LLY game. I heard the Alzheimer's data was pretty comparable although BIIB was brought down on the news.
They did a good job of it then! A few more pennies we're back to the 200 dma @ 10.06. Last time it hit, the buying stepped in. They should be buying double-fisted at this point!