gog, I think you might be wrong on the low price as stock is in slight pullback mode before another $2-3 dollar advance in this classical technicals . I am betting on awesome rise this week.
Great super perfect call!!! Stupid junk "annie" getting its share as well.Great going my friend!
nay, kole I think it wasn't too bad it was just the same as before, what else you would want to hear?
On TA fron we had 2 I consider them huge confirmation and they IMO will lead to next advance.
Patience is the key in this risk taking positions, but that is normal.
Those saying do not sell or buy more each few days when stock going down have their brain underdeveloped. They were "buying" from 13's but stock never came back even near to that price again. Will this change one day? Maybe but those trading those quite large dips are doing much better with their strategy.
It is wise to sell and maybe keep 1/3 position and add to it each time when TA says so and be prepared for to have large position before PDUFA but to have minimal risk thanks to trading where we traders were making great money getting positioned for the main even later this month.
Those long term short sellers keep their positions because they made much more trading it for past 10 months or so and there will be no attempt to cover those shares at all because it that would work ,they would have even bigger profits. No any short squeeze as many desperate longs are wishing for. Those old times are long gone and computers are better than anything.
Any side you look at, it is not good. This is not just normal trading, somebody knows something and they were getting out at any cost.
But, I see it as a possible bottom either tomorrow or on Thursday unless some unexpected news would come. If in any case today's low would stick tomorrow I would be buying, not before that.
gog, stock bounced from its 200ma but history tells us it never did stick and there is 50ma at mid 9.80s and I think this might be tested tomorrow and that is what like you I am shooting for. Will start buying little earlier than that and we'll see how it will go.
Who will win today?
What was slowly developing since 8.13 to high of 11.52( Left shoulder) and back down to 9.81 and back to high 11.65(Head) and now after as it appears bottoming at Lower price than last time, now at 9.73 yesterday, the Right shoulder will be confirmed if price will not reach 11.52 and so far indicators are that what is going to happen. This pattern if that should get confirmed would almost 100% indicate problems with to get approved. This is one of most reliable chart pattern out there. I'm not saying it will happen but we are days from the showtime. I wil my self sell all if the pattern Head and Shoulders would get confirmed at the same day.
PDUFA is approaching fast same like sharp increase in short interest touching 7MM share what is a new record for the stock. Usually when expectations are high, stock goes higher and does not trade into lows constantly like ACRX does. My guess is there are some managers who know something what makes them be more and more bearish. This type of stock behavior is very disturbing but clear indication of institutions pulling out.
And more and more Head and shoulders are coming to light. It is hard to fight technicals what are based on fundamentals and in this case there are almost nonexistent fundamentals. I would sell and let them have it all or you will lose it all.
And tomorrow you would see super massive exodus because leak would really got to main stream and nothing would stop flood of sellers.
The latest blog just now suggests negative decision on this coming Friday . That explains why stock is logging this close to the decision. History was used to compare with current trading and the medical facts as well suggesting strongly for to believe there will be FDA rejection of the drug. We should read more tomorrow morning and ETB was on the same path earlier last week as well.
Why is that? Pumpers last two weeks assuring everybody to watch for "tomorrow" or" Friday" or "Monday" because it is for "sure" approval is coming....and stock was nothing but going down hard all that time.
There is 100% believe FDA will deny ACRX's NDA.
gog, man, you are getting it all as I see it according to my MM. Congrats bro.
gog, now there is kind of strong resistance at 10.20 and unless price gets well above that at the close....it could be another test of today's low. But you know what you are doing...great trading.