It means that is not based on anything fundamentally wrong with the company. you break one support level and in this type of market where every single equity is getting killed, technicals are the only thing that really matter. you break another support and youre in a freefall, and until the macro market comes back, and rises all boats with the tide, the stock is goin to do what the macro does.
months ago, i warned i wasnt concerned with ariad, but was concerned about the macro....i sold above 13.35 for this reason. did i get lucky? yes. was i smart and not being greedy for 20.00 or bust? YES. was i too early to buy some back at 8.50? yes. think about it....the market is down 20% in a week. ariad is down 40% on no bad news. when there is a vicious snapback, people who are buying a these levels, i think, are going to make a nice amount of money on a trade to, i would think, around the 50 DMA. the downside has been ABSOLUTELY IRRATIONAL AND FREAKIN AMATUER HOUR.
btw. is the market realy going to decline 6% daily?? i would think not likely. things are wayyyyyy out of control on the sellside and the first glimpse of a day when there is a snapback, the computer programs are going to kick in and the market is going to be up 700 points.
AI
