Todays upward move is the kind of move I like (with a qualifier discussed later).
Todays move, IF for NO apparent reason (no press release or trial data news) seems more substainable and holdable.
When you have a move based on a press release or trial data news, the SAME pattern seems to happen like clockwork.
Tick #1, retail jumps in. - price goes up (Monday).
Tick #2, daytraders jump in - price goes up more to unrealistic higher levels (Monday).
Ticks #'s 3, 4 + 5, Daytraders jump out and short sellers jump in and some retail take quick profit, all driving the price lower (Tuesday morning).
Tick #6, Stock price goes too low (Tuesday morning).
Tick #7, Short sellers buy to cover their short positions and some retail buy at the lower price, both giving the price a small uptick (Tuesday rest of day).
Tick #8, Stock with no external influences seeks new level (Wednesday + Thursday).
So today, Friday, we have a good upward move, which brings me back to the qualifier I started with.
IF, next week we get the "strategic review and restructuring of their clinical programs" that Juan Vera promised, then todays move I will chalk up to ... inside information causing the informed to buy ... and IF so, then the clockwork pattern will repeat.
By the way, what caused the quick runup prior to Mondays MT-601 news release ... YEP IMO, inside information causing the informed to buy.
I expect that very soon we may get the "strategic review and restructuring of their clinical programs" that Juan Vera promised, as I don't think Mondays MT-601 news WAS the "strategic review" of the overall Big Picture news Juan Vera inferred was coming "in the next few weeks", (at least I hope not and that there is more detailed info is coming).
WE SHALL SEE.
