You are 100% right 123tom, one should sell a parabolic spike for protection and to provide support then at the pivot point, selling and buying back at the same day or day of collapse, maybe by setting stink the bids you are so good at, especially if it goes up parabolic on some BS article like November because that give the shorts headroom to gain short term trade profits by collapsing the spike. However, if the price action consolidates intra-day and struggles and fights in the $7.70s- $8.00s range and then finally breaks out on no news then it would be a blue-sky break-out because there it no strong resistance above that area and it would mean demand is greater than share supply and that sentiment is firming to the positive. I watch about 30 micro to small bio-techs and today was a difficult day for about 80% of those. I did not do a broad survey but I think XENA mentioned that as well. I think the best set up for next week is for the price to remain in the $7s and low $8s for the rest of this week. Even a slight pull back that does not incite panic would be ok and might provide a slingshot effect next week. But a slow steady grind higher is always best for longterm investors. Price stability is better for the Company as well as it makes it easier to raise money in the capital markets and attracts long term buy and hold investors. Naturally fresh investors do not want to open a new position after a big spike.
Good luck and I will be looking for your excellent charts and TA analysis.
GO AVXL!!!
