Its true the drug need more testing and a phase three trial large enough to prove this drug is safe and shows improvements over current available treatment. However, the author of the article took the purpose and end points of the completed phase/2a trial out of context. The main idea of his article is,"The Anavex data presentation didn't even come close to proving Anavex 2-73 cures Alzheimer's, as some outside stock promoters had been claiming." The reason why I think he took the phase/2a trial out of context is it wasn't meant or done to prove a cure for Alzheimer. In addition, the results were not meaningless, it confirmed the primary and secondary end points of the trial. Professor Paul Maruff, Chief Scientific Officer of Cogstate, a position the author of the article is not qualified to hold, stated,"To my knowledge, we have not yet seen a drug that has improved quantitatively working memory to such and extent as seen with ANAVEX 2-73." How can this be meaningless?
There is a possibility of missing a joint venture announcement, acknowledgement from the FDA to advance the trial due to the overwhelming response from the participating Alzheimer patients, and the most dreaded event a buy out!
Oil is used to move the general market, take a look at the QQQ and the SPY on a daily chart. Do you see the topping channel on both chart? The QQQ is cleaner, so i'll use that to explain. Calculate or measure the channel with a segment line and move it down twice, thats exactly where the QQQ bounced and has retraced to test the first level down. Thee MM used oil to turn the market up to tag that level. It is now major resistance. Also, take a look at the Russel 2000 etf ( IWM) on a monthly chart. Do you see the head an shoulder pattern, now in play? The general market is in a bear market and there is more pain to come in oil.
Once a billionaire like George Soro, Warren Buffet, or Bill Gates take a position its over.
Tomorrow is issue date, so the negative article of no patent was taken out of context and used to exploit the published/pending status.
We can buy it back or add tomorrow. They programmed the bag holders to get scared when they fast drop it with three red candle. Tie your hands to your chair to prevent a knee jerk reaction.
The reversal bounce on the 200sma to form the bull separating line candle was confirmed and supported with 30 million shares. The pattern we are seeing is called a bull flag consolidation pattern. The prior bounce and sell off was done to shake out the over head supply. This bull flag pattern we are seeing is an accumulation pattern. They will probably gap it above all the moving averages on good news.
They have a .53 cent cushion on the dividend, they can continue to pay the dividend and that is their intention.
I think the trial was scheduled for less weeks, but the patient and care givers begged them to make it longer.
The stock is trading like it suppose to; I think the NASDAQ mm is following the rules of the trade. AVXL hit resistance, came back down to confirm gap fill support, and bounced back up to form a consolidating channel. This is the trading range or channel, and the influencing factor for a momentum move up or down.
Today we hit a buy point near the close. Tomorrow, tomorrow, the sun will come up tomorrow, its only a day away. However, when the SPY retraces up to test the break down point, we need to hedge our positions with either the vxx or spxu. Hedge fund methodology.