Anavex Life Sciences Corp (AVXL)

[crescentmotor]

I don't feel like buying any here at 5, even though it's a technical target.

I wouldn't buy even $1.00 of AVXL at this level. At the moment, the Street believes that AVXL's whole advanced pipeline has blown up. There is no stock price bottom until the selling stops. The selling won't stop until there is a fundamental positive development because the shorts have the power to keep shorting the stock. For those who maintain any hope for an AVXL turnaround and still anticipate possibly increasing their position or averaging down, I would recommend waiting until there is a material positive news event--better to buy at $7 or $9, for instance, than buying now and continuing to watch the price keep slipping to $4. Personally, I won't be buying any more and just hope to escape someday hopefully at breakeven or better because I lost my faith in Missling as I don't buy into his peer review delay strategy for a supposed totally successful AD trial and don't believe a peer review article, even if there is one, will be a magic bullet. I'm hanging on just hoping the approval path in EU can be a real deal.