OT - my two cents on DNDN: charting and technicals have nothing to do with what happened to DNDN today. The FDA needs DNDN to come back with more info than what was provided, from what I understand this could take months if not a year or two. There are more elements to it than that but that is the major part of it.
TA can work because of the herd mentalilty that is inherent in the stock market. In stocks that are news driven, like biotech and other speculative stocks (like TKO) TA means nothing. These stocks go up and down because of buy and sell orders that come from institutions looking to create, add, or sell a position.
I am not a great chart reader but it can definately be a great tool if you know how to use it and use it conjuction with fundamental research.
DNDN fooled a lot of people, but if you look at the short ratio, which was at 41%, didnt exactly fool all of them. Something was not right with it, very rarely does the market get it wrong.
