I own 32300 base shares of CPRX at an average of $1.23 per share and have been a holder of that base since mid-2012. I have already covered my costs on that base by trading with the trend on volume spikes lasting at least 1.5 days, following whatever the trend direction is that the volume spike dictates, whether to the upside or downside. If you don't close out a position you have not made nor lost any money. Until it's cash in the pocket it's just a number on a screen. I am not negative on CPRX. I would love to wake up one morning and find out that my base is now worth $10. In the meantime I like to make actual money by taking and actually closing positions.
volume spikes, price breaks to the downside. 1 yr low resistance level is $2.70 which the stock is trying to break through right now. If it gets below that there could be another dollar of downside to around $1.75. Your buying opportunity is right around the corner I guess. Volume is and always has been the key with CPRX. If we end on higher volume today and the Monday open share price is below $2.70 it's a good indicator for this stock that there will be a swoon lower....if the last 3 years of chart history hold. Of course if the volume goes back to anemic on Monday then the price will just continue to slowly float sideways to slightly down until the next volume spike takes the price to a spike higher or swoon lower. The ratio of volume/momentum to price jump up/down on CPRX over the last 40+ months has been about as predictable as any sample chart you could put in any 'technical analysis for beginners' book.