NanoViricides Inc. (NNVC)

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I WILL LET THE STOCK'S ACTIONS SPEAK

While there may be nuggets of information in Gene's letter, I agree with posters saying that his excuse for taking so long is feeble, at best.

The market's reaction to the letter will be most telling. Though the views of certain individuals may be interesting, the take of any single individual is of only minor import most likely just an expression pre-existing beliefs, pro or con, about the company and its management.

If prices can hold above the support zone I've mentioned in several posts ( 1.45 - 1.55) we can conclude the letter did not change sentiment. A break below that support will be a distinct indication of a ratcheting down of expectations. A breakout to the upside will signal a positive reaction. The key resistance zone is between 1.70 & 1.80. I consider an upside breakout unlikely but I will let the market tell me.

There is a large short position in NNVC, equal to about 35 days of average daily volume. Large short positions in small cap stocks is generally a bearish signal. But the bears aren't always right and if an upside breakout were to occur due to the announcement of significant material progress a move back to the March highs ( 3.44) would occur rapidly as shorts cover.

My expectation is for a CEO letter that shows no material progress - something the shorts are already anticipating, and for a downside breakout to occur. Target range 50 cents to 1.00.

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