It's a lot of retail that won't have their stock tonight when they arrive home because they set stops!! Selling begets selling ... seems overdone!
Look no further than the IBB, XBI funds. They are getting smacked and that carries over to all biotechs. 10% haircut today? Overdone!!
Biotech/risk-off has been getting hit since the open yesterday. They ran the stops this a.m.
Added 1K below $14.70! This, too, shall pass!
Looks like the only ones getting sucked in are shorts covering into the high volume!
Been laying low and extremely busy! I'm not "in" as deeply as I once was, but still hold 150K (just for fun?). I missed buying off those .05 lows recently. Agree with Dem, I wanted a little more confirmation before committing more $$.
Eventually, this WILL pay off big time for patient investors! I really won't mind paying "up" a little as the story firms up! We're still in on the ground floor!
Survived the winter from hell only to be greeted with our wettest June in history! Swatting mosquitos now! ;-)
Is this "the" moment we've been waiting for here? Time will tell!! GL
Actually, I'm in the no R/S camp, too. Think SIRI ... they had over 2B shares, I think, when they were about .10, too. Everybody kept screaming that they could NEVER get above $1. It's not unheard of with this share structure to make your way out of the weeks. PIR was about .38 cents and now sells for over $20, selling #$%$ from China. Anybody who thinks getting uplisted will stop the nonsense and this will trade rationally, hasn't owned many start up biotechs. As for institutional investors? Build it and they will come!!
With our share structure, it takes a ton of volume to move the needle. Need the R/S.
They can get more shorts on, but even if there were a market correction, shares will be hard to come by. They've done this before. We can wait them out ... can they say the same?
Also, July is typically a positive month for the market and if major economic news or geopolitical events don't blow up, OSIR is marching towards another great Q.
Another theory: with literally NO volume for days and days, the ONLY way shorts can pick up shares is to run the price up and induce some "profit taking" to loosen shares up. My opinion only, but it seems to have played out a number of times. There were NO sellers down around $16, so they will try to find some at a higher level from short term profiteers! We'll see ...