Coronado Biosciences, Inc. (CNDO)

[lowman]

Yes, very disappointing. No small thanx to shorts. Virtually no other reason for the frequent hammering of the bid than shorts who got caught off guard and worked doubly hard today to stave off any bigger run until they could cover ALL their shorts, even from lower levels. My guess is, the first pop to 2.70 9 days ago cost them some unexpected money, which they desparately tried to recover in the 6 days thereafter. The following two days were too much to easily 'control', so they waited until a higher level to double down on the shorting. Methinks they're still underwater, which explains the dismal close that only negative minded 'investors' would do.

Often, shorts rely on 'time'. They rely on news becoming old and people moving on to the next play, thereby profiting from the diminished interest and buying pressure. Hammer the bid enough and they wear people out, which is who they cover from.

One look at the chart clearly shows how they did just that for 5 days after CNDO's autism news. However, 5 days wasn't enough to fully cover their azzes, so when CNDO reached a true breaking point, they squelched the impending run with all the shorting they could throw at it. Hence, aside from intraday pops, CNDO had a dismal close.

Give it a few more days though, and avg down if possible. Methinks shorts can only get away with their game for so long. The market clearly thinks CNDO is undervalued. MACD and Aroons says so.