Have you read the PIII results report? There is nothing to worry about here. Creating a false sense of panic is also very common in the bio world.
According to Etrade there are just over 8 million shares shorted. 4.7 million shares have traded since the plunge as of the first 75 minutes of the trading day. This should make it clear that this was just a short covering tactic.....nothing more.
Looking at the action in the first 15 minutes of the day, investors that set stop losses caused a chain reaction resulting in the big decline. This is why I never set a stop loss in biotech stocks. Remember you haven't lost anything if you haven't sold. This will trend back up. Those with the big money are just making their quick dollars. Patience, patience, patience.
Here's what Summer Street had to say about the Brean B.S. report........."Irrespective of what Brean Capital analyst Jonathan Aschoff says, his track record and any ulterior motives he may have (e.g. they are shorting the stock), its really the FDA that will make or break small cap dialysis stock Rockwell Medical." See for yourself just do a search for Summer Street Capital RMTI.
This is nothing more than manipulation to allow shorts to cover. News on manufacturing from FDA is coming any day, NDA will happen soon. This is the last opportunity for short covering to either make profit or minimize loses. So unless you need to ofset some major profit on other stocks for tax purposes, just be patient and hold through this. It'll be back to yesterday's close in a week.
Based on the MACD, RSI, and volume over the last several months, we should go higher tomorrow. At least that's what I think. I'm guessing we may close around $13.30. Any other opinions?
Now if I only would have followed my own analysis and sold in the $15's and then get back in the $12's. Oh well, still holding what I have. This will turn north again, just a matter of time.
Nobody can predict how a stock is going to move for sure. Everyone is going to have an opinion. If they are smart, their opinion is based on some good research. Cory has made some good calls, just like a few others on this board. However, if people are making investment decisions solely based on a message board, then they should put their money in the bank instead. So does us all a favor 'stockjerk' and take your "wellfare" based "everyone's a winner" opinion elsewhere.