I am a psuedo-positive long!
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You're welcome IFU, I've updated the chart. As you can see we are in the "safe zone" now. The volume on Friday was good, but not great (the highest we've had in 11 days though). IMO, this is one of two things:
(1)The beginning of the next attempt to break $2.05. If this is the case, we will see higher volume on Monday than Friday and a closing break of $1.88 resistance.
or
(2)The long upward leg of Friday's candle was exhaustion (after three up days) thus the lack of real strong volume on Friday
We'll just have to see how it plays out on Monday
I guess that explains the lack of "partnership" spike in share price and the low volume. Apparently the smart money knew the Preferred shares were not going to BMGF nor a BP. We are always last to know. No matter how large our IQs, no matter how extensive our detective work.
GLTA
Chenzo
ImaP....not sure "the staff" is paid all that well. Afterall, the lunch budget gets them to the golden arches
Glty
Chenzo
The low volume on the right shoulder never let the PPS reach resistance @$1.86. It wouldnt surprise me to see one more bear raid that will close the gap.
An options award PR or a hit piece by one of the online rags could assist the raid. Not being negative, I would just rather look for the trip ups, and have some dry powder ready. That way, if the gap is filled, I will have funds available to buy more.
Some use a Ouija board, some play 6 degrees to whomever, and others wait in JB's driveway (remember that?, turns out she was a very nice lady). I use the charts to help me navigate my way around. Takes the emotion out of things. Thats what works for me.
GLTA, next week shall be interesting. Haven't we heard that before?
Chenzo
Edit: whatever happened to the guy who was "just married". Could it be his wife found out he used the wedding coffer to invest in PPHM. Could he now be "just divorced"?
I put together alittle T/A chart. It was posted Friday, does not include Friday's trading.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=97318588
GLTA
Chenzo
You would think with all that is coming up there would be some pressure on the ask, something leaked, buy nothing. The shorts had the day off, there was nothing for them to defend today. And they are not afraid of holding short over the weekend.
Chenzo
Speaking of volume/ T/A alert:
High volume pushed us out of what I am calling our "danger zone" ($1.65-$1.55) on Jan 21th. We dropped back into the "danger zone" on the ATM usage PR then on very low volume moved back into the safe zone. Shorts love to see this type on action, up on low volume.
Not saying what is going to happen, but if we drop through my danger zone/resistance ($1.55). A filling of the gap is likely. I can see this happening if there is no news announced by Feb 19th.
News changes everything and T/A is a little tricky when dealing with small biotechs.
GLTA
Chenzo
That would be the assumption if the shorts were really afraid of holding PPHM over a 3 day weekend.
Then again, all these conferences set up in March and the offering of preferred shares (all of which is made public) and still the shorts have increased their positions.
What do they know that we don't. My 19K shares are also for sale at $20, contact me day or night.
GLTA
Chenzo
Wow, wouldn't take a 10+ bagger. Now that's the definition of greedy. And we know what happens to greedy in this game. Sometimes I wonder if some peoples' "pie in the sky" expectations have clouded their reality....After all, we are trading at $1.70....Jeez
Sorry if I sound too critical, I am surfing due insomnia. Bourban didn't work tonight. Nothing to do with PPHM. Teenagers!!!
GLTA
Chenzo
We dropped 4% in share price after announcing the 10% dilution PR; on low volume....the right people know what is going on
GLTA
Chenzo
Sorry CP, that was meant tongue in cheek, a joke. Should have included a smiley face or lol as my teenagers do in their texts. Hope no offense was taken. Loof also posted the link to the ATM usage.
My post was in response to the lack of trading action, both AH and PM, and three brokers not having the PR (Etrade, TD Ameritrade and Scottrade).
I still believe the ATM usage was somewhere known when the Preferred shares PR was released Wednesday AH. The trading on Thursday was more in line with dilution news
I feel the Preferred share PR on Wednesday AH was a non event, only news that came from it was the 10% interest rate and who was going to be handling the sale. Nothing there to cause a 4% selloff the next day and remember we were pushed down to $1.55 AH
Stochastics have been oversold since Jan 27th
Chenzo
I use 100 day daily
Is it possible that the $27mil ATM usage was released yesterday and no one noticed it due to the Preferred share release.
I say this because yesterday traded more like we were diluted 10%, not today. I really didn't think the Preferred share PR was all that negative for PPHM shares. It basically told us who was going to be handling the transaction and what the interest rate was to be. Will already knew of the $100mil preferred shares being offered.
Just throwing stuff out there on this crazy day. Anyhow, I'm off to the driving range and then a few pints...text me if we partner
GLTA
Chenzo
CP, are you sure you didn't concoct that PR just to get us common folk riled up? This is weird
Chenzo
I edited my post to include that. I think it was like 2000 shares. E trade not showing the ATM usage either...strange days indeed.
Chenzo
TD Ameritrade still does not show news of the $27mil ATM usage and no Pre market trades yet...This is very weird
Chenzo
Edit: And if I remember correctly there was only about 2000shares traded AH after 5:30pm
So your guess is a 7-8 to 1 conversion rate. I think before this dilution PR, we all would have been happy with that. But now we ask ourselves is 10% dilution worth the 7-8 to 1 conversion rate?
Throw in the impending options issuance and tomorrow could be crazy. I'll be trading to better position myself for the run I believe will come. PPHM is a very dangerous stock to be married to, just ask the long timers who are. It is much better to just date her
EBS, I appreciate all your posts, however crazy some may be. I'll decide which I will believe and which I will not, but you always make me think. And your post on shorting against the box was perfectly explained in a layman's terms. Im sure a lot have learned from that post.
Thank you
Chenzo
Edit: It is much better to just date her (for now)
Its the 10:30 game in reverse....we will finish green
Chenzo
There is no question that Tuesdays action was bullish. That was buying or covering, with large volume. Someone always knows something. There is always a leak.
We'll end green today IMO...
CP is right, its becoming harder and harder to shake out shares.
There were big buys on Tuesday,(or shorts covering) that's a fact
GLTA
Chenzo
Not sure if retail has $800,000 of loose change to throw around
We shall see
Chenzo
C'mon DEBS...that was some real buying with no news and no mention on CNBC...Cheer up
GLTA
Chenzo
Are you saying that you believe yesterday's 120k and todays 109k AH trades are just month end settling?
I would have to disagree. Although I haven't been around here as long as most, in the time I've been here I don't remember two such large trades passing by AH. On consecutive days in front of everything most believe is coming, I don't think so.
More reason to believe that something is in the works.
If I am wrong, please correct me.
GLTA
Chenzo
AH....109,295 @ $1.79
Yesterday we had a 120k AH buy. Nothing going on here huh?
EDIT: Also, did anyone else see that stop loss get taken out at about 3:40et. 35,000 shares @ $1.76. PPHM was trading @ $1.78, they cleared the bids at $1.77, then with 100 share sells walked it down to $1.76 triggering the sell. The PPS conveniently recovered and closed out at $1.80. The crooks stole 35k of someones' shares.
$1400 profit in 20 minutes, nice business to be in this white collar crime is.
Chenzo
For all you PPHMers interested in Technical Analysis:
Today we formed a Doji star. It is usually the sign of a reversal in the trading pattern. On Jan 17th, we also formed a Doji. That too came after three down days and led to PPS rising from $1.72-$2.05.
Also, the fibs have retraced almost exactly 50%. The last run from $1.45 to $2.01(the close Jan22) gave us a .56 increase. 50% of this increase is a pullback of .28, and a share price of $1.73. That's pretty close to todays close, in my book. And also a bullish indicator.
Tried to be careful with any run on sentences and didn't use any exclamation points. EBS has become our new grammar teacher. All in fun.
GLTA
Chenzo
OT: Wook, I do not have messaging capabilities. Yes, you did well. Try to leave your emotions out of your trades. Patience is most always rewarded in this game. The fear of missing out is a very strong emotion, and can get you in trouble.
ImaP: I laughed out loud with the frozen clothes post. Sounds like you might have your washing machine out on the porch. Much like Loof's shack.
Also, did you ever get a reply to your post where you asked if the preferred shares could possibly be used for the poison pill. I thought that was an interesting thought. If not discussed here, maybe it should be. If it has, I apologize.
Finally, left Philly and 12deg this morning for So Florida and 78deg. I was born and lived in philly for 45yrs, I bleed green, but its nice to feel warm again.
Looking forward to sharing a glass of wine with my beautiful wife. Not so much our four teenagers, three of which have their drivers licenses/permits
Chenzo
I agree, at $1.63, the no short rule comes into effect. Wouldn't surprise me one bit to close at $1.64 then short down tomorrow to fill the gap. Good news, at $1.45, the no short rule comes into play.
I suggested this two weeks ago and was wrong. Lets see what we get this time
GLTA
Chenzo
You will get your hockey stick when partnership is announced. We will use the BP's already established sites, doctors, and marketing. IMO, the preferred shares are for a BP not an Investment Banker.
The deal is all but finalized. That is why mgmt. was able to use the term "hockey stick" enrollment.
GLTA
Chenzo
Like the optimism! Now compare PPHM to S&P (for those of you who have a need to compare PPHM to the stock market) and you will be even happier.
Visiting family in the Philadelphia area its 16deg here and more snow coming. Already missing So. Florida and our beautiful golf courses.
Wook...keep an eye on PPHM's site in Cherry Hill site for us and congrats on the closing.
Was waiting today for posts from "he who travels on the highway and the water" and his buds, still absent. I'm sure they will be back.
Have a good weekend all
GLTA
Chenzo
Update: Now 2.5mil shares traded and that large order at $1.77 has been filled. It must be nice to be on the inside. Until then, I guess we all stand at the pet shop window and look at the puppies. Hoping someday we can have one.
Chenzo
EDIT: Most of us stand at that window
CP it looks like your friends are sitting at $1.77. With 1.9mil shares traded in 1 1/2hrs, its a pretty sure bet we will hit 2.5mil traded.
Care to share what you know with the rest of the board?
Chenzo