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Black THURSDAY For Rnvs - 75% One Day Loss!!!
- Thread starter eagle488
- Start date
Quote from eagle488:
Sorry, I turned away for 30 minutes but just noticed it hit 3.9. So if you got in below 3.7, 5-6% gain. That does make sense that the shorts will cover at some point in the day. It is a risky move.
These selloffs tend to be very unpredictable, but very worthy to study.
as far as i saw they all move in similar fashion...another penny bio crap tumbled 50% or so months ago and this move is almost identical. banked half a $ on this sob, hee hee.
In a case like this there is no time for valuation, I got the word at 8:23 and didn't really think about it. Then here's how I analyzed it. Stock took a 75% whack, it has 5m shares short, those guys are scrambling to cover giving a solid bottom to the price. Then it's just a matter of how many step in and think "Hey, that's dirt cheap." They probably are not a one trick pony and will go on to develop some other drug with the 100 million in cash that they have. Book value is 3.60, the stock was selling for 3.52, end of analysis, click "Buy." If it goes south click "Sell."Quote from kjsnow25:
so your telling me a failed drug trial that is the entire basis of the valuation of this stock isn't important? No? Wow.
Remind me to chime in more often....have fun with your candlesticks. I really hope the Elliott Wave can explain your next biotech blow up.
Egads.
Your factors may be important on the rebound, but the catalyst wasn't exactly a failed trendline. Sheesh!!!
quick, what do they have in the pipeline?
and also, how long does 100 mil last if you don't have anything in the pipeline?
how many biottech companies are in this space? Why would you now enter in here as a LT investor when you can find someone else who does have something in Phase 2 or 3...?
100 mil won't last these guys two years.
I'm just throwing out facts. I never said that a resulatnat run up from a short cover isn't tradeable. I was pointing out the scary and nasty nature of a binary trial in asopace where there has been no success, ever.
Thanks for the gang tackle, though, and to cite my quotes. I feel special.... :>
and also, how long does 100 mil last if you don't have anything in the pipeline?
how many biottech companies are in this space? Why would you now enter in here as a LT investor when you can find someone else who does have something in Phase 2 or 3...?
100 mil won't last these guys two years.
I'm just throwing out facts. I never said that a resulatnat run up from a short cover isn't tradeable. I was pointing out the scary and nasty nature of a binary trial in asopace where there has been no success, ever.
Thanks for the gang tackle, though, and to cite my quotes. I feel special.... :>
The hundred mil only has to last for the time the trade is in effect, less than 2 hours. The trade made money. End of story.Quote from kjsnow25:
quick, what do they have in the pipeline?
and also, how long does 100 mil last if you don't have anything in the pipeline?
how many biotech companies are in this space? Why would you now enter in here as a LT investor when you can find someone else who does have something in Phase 2 or 3...?
100 mil won't last these guys two years.
I'm just throwing out facts. I never said that a resultant run up from a short cover isn't tradeable. I was pointing out the scary and nasty nature of a binary trial in asopace where there has been no success, ever.
Thanks for the gang tackle, though, and to cite my quotes. I feel special.... :>
First thanks for the post. These stocks are interesting to watch.
Carnage like this is rare. Trading this stock without a stop would have hurt. UUGH!! Just looking at this chart gives me a knot in my stomach. I am curious if the company has any long term rebound prospects. What is cheap usually gets cheaper. Price action after the open was poor, with a quick spike to $4.00; the stock was tanking on the close, close $3.44. Is this an R.I.P candidate?
Carnage like this is rare. Trading this stock without a stop would have hurt. UUGH!! Just looking at this chart gives me a knot in my stomach. I am curious if the company has any long term rebound prospects. What is cheap usually gets cheaper. Price action after the open was poor, with a quick spike to $4.00; the stock was tanking on the close, close $3.44. Is this an R.I.P candidate?