I bought on EAP information because after reading through it quickly it seemed FDA would grant approval using less data and with endpoints that are more practical. I believed this increased the value of the stock becaue FDA timeline was now pushed up and had a greater probability of approval.
HOWEVER - as I have stated I am a professional trader. Fundamentals DO NOT MATTER when it comes to stock price. Things that matter are current price and market sentiment for the stock.
Since I bought in around $7.50 and it ran to $8.30 and then sold back down to close at $7.50+ that day I took that as a preliminary RED FLAG. I said to myself once the prices goes red the next day that means the downward trend from the prior day will continue and the market DOES NOT CARE about EAP or anything. They want large scale clinical evidence the product works. I sold for a TINY loss at $7.40 and predicted it would fall into $6's within 1-2 weeks. It ended up falling to $6's the very next day.
For me I have made so much money on this stock that I am playing with 5x house money. Many of you know I ("we" since I disclosed I am 1 of 3 members who own our collective account), had 6.8M shares. A screenshot was posted of this online and VALIDATED by other Scottrade members as being authentic. That being said, I have more of a bias towards getting in at a good price and selling on pumped news, since, I have already made my money in excess of what I expected. I rather buy on the way up at $9.00 and watch it rise to $15 then buy at $7.00 and have it go down to $5.25.
Everyone on these message boards (iHub and Yahoo) believes this thing is GUARANTEED to GET FDA APPROVAL. That is the FURTHEST THING FROM THE TRUTH. Do any of you think it is difficult to stomach the fact that they have not had any significant data in 6+ years of testing this product out? At the end of the day the product might ANECDOTALLY work, but not provide meaningfull clinical data. If this is the case this company is DONE overnight. Like a burger left on the grill for a day.
