Entremed (ENMD)

[RRGY2K]

Since nobody seems to know why it went up, it's hard to know why it went down. Whatever trading "patterns" we have are probably more about traders playing chess with each other than they are about the fundamentals IMO.

However, those of us still here after ooooh so long in ENMD are here because we believe there are potential drug candidates in that pile of intellectual property and we'd like see if the company can produce a real and exciting press release for us some morning.

But, after hours trading prices are established by single events. There's always somebody with buy and sell orders on the fringes, hoping someone will be dumb enough to place an after hours order at the market. I don't read too much into the value of a company by the after hours prices in lightly traded issues.