Biotech Values

[wallstarb]

ARIA was a clear and obvious case of a small bio running into a conference a significant % (over 50%) and the news at that point needed to be amazing - since it was mostly a rehash of the August data there wasnt much there to create new demand - therefore the news while not bad was sold into.

Support now is $2.18 +/- and should be pretty good. Technically its not done yet but with bios - any NEWS can mess with the natural cadence and rythm of buying/selling.

Think of the natural supply demand as the normal pulse - news (especially in bios) is akin to a heart attack and can screw up that rythm for a few days/weeks (unless its really unexpected and earth shattering or a binary event like FDA approval) something like the news ARIA got last week - just a little more phase 1 data where the bulk was released months ago - ISNT/WASNT going to be earth shattering, therefore it shoudl return to its 'natural" rythm - thats all its doing. In a few days you should get a BUY signal - that says that correction is over. Now that being said - those "bottoms" on ARIA have tended to be layovers to lower support.