In my experience, when a stock drops and hangs around day low for along while, usually down volume picks up again. I don't see any recovery in the stock price today and tomorrows Friday and likely stock goes even lower.
Biotech's in past market environments like we're in now, can selectively outperform. CCXI could drop further from recent run up from 2 range, but one imho would survive a market correction.
Try this question. Can you make a case for owning this stock right now? If yes, love to hear a response.
I wonder if all the possible attorney fees, lost revenue from shut down / investigation etc. not to mention the poor management has simply ruined this company. Maybe not, but does anyone know if if MNGA had to pay off family of the killed man? If so, how much?
Glad I dumped into run up.
Drum roll please........HELL NO YOU DON'T
HEY LYLE.........let me guess, you still buying LOL.
Added CSLT to my buy list yesterday after noting it's run and awesome partnership. Figured it was just getting started.
Haven't done anything here yet. Waiting for weak hands to get pushed out and start buying again.
Thanks for your concern small fry.
looks like it wants to continue higher. Great VOLUME yesterday to the upside, so maybe we can find 5's and close in same.
However, a pullback wouldn't surprise me either, especially ahead of the weekend tmrw.
Most recently, did some trading in SYNC following the $300M 3 year contract awarded from AT&T who ended a 15 year' relationship with Yahoo.
Traded some beaten down mining companies like HL along with one offshore driller ORIG recently. Out of both and waiting for CC on ORIG tmrw. Until I'm convinced their not the next victim heading to Bankruptcy, I won't touch again. Traded it a couple times as it moved above a buck. Lately ORIG hasn't done anything albeit OIL has continued higher.
OH, I also short stocks like MNGA after it ran up to mid 2's. Still covering on it. I think it's going to ZERO.
Personally I think this likely continues lowering volume and price until next catalysts and that's going to be awhile.