Innovation Pharmaceuticals Inc (IPIX)

[sox040713]

I think technical analysis applies less in biotechs than other types of stocks. That is why their SPs tend to be volatile and can be easily influenced by rumors and news of FDA actions. Clinical trial data and partnership deals are the main driver of course. Usually there will be a SP run-up near the result.

In the case of B, the run-up has started and is nowhere close to be done IMO. Leo has basically told us that the result is good after presenting the preliminary data. Last week’s close tells me that demands are much greater than supplies. Shorts who sold two weeks ago around $2 are looking at 34.5% increase since. Good luck trying to cover.

So when do the shorts arrive? Before or after B unblinded. At an all time high and RSI lofty.