Replies to post #71448 on Innovation Pharmaceuticals Inc (IPIX)

[centillion]

Here's to you being wrong again the majority of the time, if not all the time!

[thefamilyman]

I cannot believe that there are still people using stop loss orders for these small biotechs. It has become such a routine thing for market makers and other manipulators to drive down the price and harvest those "stop loss" shares. In most cases, the stock will close out the day higher than where you got "stopped" out. It's just one more way the big boys steal your money.

If you have a stop loss order in for your CTIX shares, you might want to cancel it. Otherwise some hedge fund is probably going to own your shares.

Dr Jerry said...

Lots of worry worts with stop loss orders sitting at 10 day movie average.

Few shares for sale so market makers will begin shake out after lunch and drop price and trigger the stop losses.

This way they will gather cheaper shares for next wave up after news is released.

Wash, rinse repeat.

[BonelessCat]

Can the after lunch action be any more different than what you called? Now a 3 hour, tightly bound, flag on the minute charts going into late afternoon. I would bet my last nickle that the long flag and support on the minute chart resolves with more buying going into the final 2 hours. Sure there still might be a spike down, but IMO it already would have happened.

Might get a 3 cent head fake befor it takes off again. Should get another challenge of 2.95 and 2.98 before close.

Lots of worry worts with stop loss orders sitting at 10 day movie average.

Few shares for sale so market makers will begin shake out after lunch and drop price and trigger the stop losses.

This way they will gather cheaper shares for next wave up after news is released.

[123tom]

nice day for CTIX.....

like you and others have said...this current technical ' top zone ' area,(2.45-3.30) is a tricky trading zone. Technical traders following indicators and wave patterns, will make decisions here, even last week at the previous 'top zone',(2.60 area)....and its possible we could see this rally momentum get tired and suddenly its 'wiley coyote' time.... and sellers could take profit. I took some profit here today. and last week at 2.58..early maybe, but , its more of a technical traders decision here.

I retain my core now to hold.

I suppose IF by strange technical trading ,price plunges or pulls back in waves, to retest the 2 dollar zone ...I shall buy some more.

Technically as far as tools can offer a vision....the double from the last bottom zone at 1.60 would target the 3.20 area asa wave completion for now.... The topping zone I was looking at a while back was all this area, from the old top at 2.45 to the 3.30 area, and anything in between, like right here . This move has gone Hyperbolic now....

its a little bit dangerous at this cliff edge....watch out for the road runner....thats all folks.....

I like the way the Ichimoku cloud shows the pullback target zone.

http://stockcharts.com/c-sc/sc?s=CTIX&p=D&b=5&g=0&i=p94501754079&r=1412022875839

http://stockcharts.com/c-sc/sc?s=CTIX&p=W&yr=2&mn=0&dy=0&i=t70839651677&r=1412023040729