Why I think that yesterday was a massive take-down
Post# of 72440
Posted On: 07/15/2016 12:38:29 PM
Why I think that yesterday was a massive take-down/short covering/long positioning day:
http://bigcharts.marketwatch.com/quickchart/q...&show=
This is a dynamic chart showing yesterday and today (so far). Note the huge volume yesterday, the dramatic stop-running dip to 1.12 and the move up from there.
Now look at today. Small volume even by CTIX standards. While this can change fast, there is little supply above, some demand below current level around 1.24-1.26.
The Seeking Alpha interview followed by heavy bashing at lieHUB and the appearance of 2 bashers here showed a desperation to try to scare people out of shares. The extremely brief spike down to 1.12 probably took out most stops and trailing stops. It is very dangerous to use any kind of stop on a small biotech, as I'm afraid some may have learned the hard way yesterday.
http://bigcharts.marketwatch.com/quickchart/q...&show=
This is a dynamic chart showing yesterday and today (so far). Note the huge volume yesterday, the dramatic stop-running dip to 1.12 and the move up from there.
Now look at today. Small volume even by CTIX standards. While this can change fast, there is little supply above, some demand below current level around 1.24-1.26.
The Seeking Alpha interview followed by heavy bashing at lieHUB and the appearance of 2 bashers here showed a desperation to try to scare people out of shares. The extremely brief spike down to 1.12 probably took out most stops and trailing stops. It is very dangerous to use any kind of stop on a small biotech, as I'm afraid some may have learned the hard way yesterday.
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(0)Innovation Pharmaceuticals Inc (IPIX) Stock Research Links
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