Short cover rally. Taking profits on short positions for the next two weeks then it might come to 'buy/stop' triggers to cover short positions to mitigate loss the last week into the CNS Partnership Deal Making Conference Presentation by Anavex VP Daniel Klamer on Sept 11, 2017, thirteen trading days from now.
Increased volume and large price increase indicate accumulation or possibly short covering. Volume was 241K Fri Aug 18th. Monday Aug 21 volume was 679K. So as much as 438K could have been covering of short positions. At this rate it will be just enough time to cover before an event that could be close to BINARY in nature.
If this is the case then there should be a steady stream of volume and stock price increase into Sept 11, 2017. I suspect it could resemble the rally starting June 20, 2016 for three weeks at the start of the five weeks to the July 2016 AAIC meeting, where the rally started at $4.06 and rose to a high of $8.00 just three weeks later.
No one knows what will happen but the set-up is there especially when one considers all we know including the data that should be ready, that borrowed short shares are being returned and that MS will be discussed at the CNS Partnership Conference.
Now some have said, "there will be no news until Sept 8th because 30 days trading restriction from Dr Missling'sshare purchase plan." That is NO MORE THAN HALF CORRECT. The things that Missling knew when he made the plan. Decisions, which Missling did not know at the time, could come out of the FDA. OOD for Angleman is ripe as well as other FDA Special Designations which Anavex is very likely to have already applied for these past quiet months. These things could happen any day now and quite possibly AVXL could be moving from a period of little news to a period of many PR'd developments. Likely a lot has have been happening behind the scenes we have just not been privy to it yet.
This I firmly believe. In fact, I put my money where my mouth is unlike the detractors that profess to have no position long or short or who claim to be long but do nothing but denigrate Anavex the Company, her Science/Drug Trials, and Management.
After carefully considering what transpired today in the price/volume and trading patterns and formulating the above thesis I hit the ask for 1000 shares @ $4.35 @17:18:57pm EST Aug 21. I did not need more shares but I am of the firm conviction that this rally is just starting.
Filled Buy 1000 AVXL Limit 4.35 -- -- 18:18:57 08/21/17
The detractors and denigrators MIGHT have ulterior motives. Mine is clear and forthright, I can be wrong but I always tell the truth as I see it and I have actual skin in the game.
Watch for increasing volume and share price appreciation. If you see this it might be because short positions are being covered. Remember a short position incurs fees and interest and ties up capital but most important a profit can not be realized until the shorted shares are repurchased.
Good Luck to All Longs.
AI
