There were a couple of times when we had price change parity with CYDY in the morning session, when both companies were down either 24 cents or 26 cents. And each time, HGEN would start a run, but CYDY was stuck in the $5.25 - $5.30 range. So when we strayed too far away, the market maker would lower our bid price, and open the gap in our spread anywhere from 25 cents, to 33 cents. This happened over and over. I got tired of watching it happen, it was just so methodical and predictable.
Anyway, the points at which we had price change parity with CYDY was when we were going up to just under $21. The parity point became resistance for us, and starting somewhere around 11AM, the parity point became support for CYDY just north of $5.30. A not-unexpected reversal in the CYDY trend, resulting in an 11.5% price increase, and a daily price range just 2 cents short of $1.00.
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