Yes, as you state, that could be ONE scenario. That does not, however, mean that is EXACTLY how things played out. You said the charts would show what the smart money is doing before news hit, yet you are just now saying what you feel one scenario could have been. Were things to unfold differently, it is quite possible to have found another theory that would explain the sustained rise in share price rather than the subsequent drop that we've experienced.
I appreciate the insight, after the fact, but hindsight is always 20/20, so to speak. I never tried to imply that your chart "readings" were wrong, but more, the way it was presented didn't give concrete support of your reasoning. It was in fact, still a guess, albeit an educated one, based on past experiences and such. As for your trend line support level being hit, it certainly appears that will occur in the next day or two, and I applaud you on said call.
I found myself extremely disappointed with the price action following the FDA decision, and ended up closing out my March & June 0.50 call positions for a small gain. I still hold a few shares in my IRA, and will be keeping an eye on that trend line for a possible play in the coming days.
One thing I would like to say (hopefully constructive criticism is well received) is that the manner in which you were presenting your projections was what some would consider to be rude. You came on, saying the chart will show you beforehand how the big money will respond to the FDA decision, but when asked how/why this is so, and what the chart is saying, you seemed to be more in the "I know what I see, but I took the time to learn it and so should you so I'm not telling you anything" approach. Regardless of how often it is preached, "Don't trade with emotion" just doesn't always take hold in the mind of the investor. When your stock puts out good news, the news you've been waiting for, and somebody comes on saying it's going to drop to support, but doesn't want to present their full reasoning, it adds a little tension to the board.
Again, I never meant to imply that you were wrong, just that based on the information you presented at the time, it didn't seem so clear to me (and others) as to what in the chart told you big money would respond negatively after the approval. Hopefully, as we approach further dates of anticipated news, you can continue to express you opinions, but this time, with a more welcoming manner where people may respond in more of a rebuttal mindset than a defensive one.
Once again, good call on the way things would play out, and I hope my above comments are well received. Best of luck to you on future endeavors!
AI
