Thursday, April 12, 2007 4:50:07 PM
Seems like I remember a 10K being filed in Mid March. If the option increase was first made public then, then what are the chances that today, nearly a month later, they suddenly become issue number one?
I have seen movements like this in Cortex for 15+ years. In the really old days I used to think it came from those making a market in the stock. This morning the stock had a pre-open Level II bid ask of 2.14-2.27, well before the open, indicating weakness. Most days there is normally a wide spread in both directions, maybe 30-50 cents, until seconds before the open at 9:30 EST.
The thing about this morning is, there was no pre market trading, and not a lot of movement until the stock had been open for about 15 minutes when someone sold off 60,000 some odd shares in a few minutes on no news that I could find.
These shares were sold well before any mention of the option increase was made on this board. The selling seemed to make everyone nervous and there weren't many buyers the rest of the day. The stock just never recovered.
Anyway, My little take on today was nothing new for Cortex, a small biotech always seemingly full of promise, with plenty of nervous shareholders on board.
For the record, I sold 22% of my stake yesterday, but am still long a good bit. I just wanted to play in some other stocks mentioned on this board of late.
Anyway, Thanks for all of your input, it is appreciated.
scstocks
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