Not so fast my friend. Since the pants were dropped on that Friday over two weeks ago a steady and irrefutable accumulation has come into selling of positions. More than two weeks straight day after day of nice steady volume where the stock price has remained steady as well.
Suddenly today price is up on bids at the ask. Volume 83 million.
I'll take a pat of butter with that $JPEX toast please.
Something does not add up. Looks like accumulation since the pants were dropped that Friday.
Just saying..... Fat Lady may be tuning up. Stay tuned.....
Playing some beaten up biotechs. You know one of them--CUBT.
Getting the National Institutes of Health to underwrite clinical trials for metformin eyedrops for the treat of macular degeneration is very significant--yet the market yawned because, imo, shareholders have tired of waiting for more news that just this.
And I think that there s more news coming. The quiet period is overdue for being over. Watching this one for more news and the shift from selling by old investors to buying (from new investors). JMO
SBFM was a nice scalping trade this past week. In and out.
Last year, Biotechs were hot. This year, the sector is not. But there are good companies that are down 70% to 80% NOT because they are not promising companies, but because the sector is out of favor and positive developments are not rewarded with higher prices.
But this trend may end soon.
Did some due diligence on the following stocks. All down big, but with real opportunity to advance their clinical trials.
Fortress Biotech (FBIO)
Inhibikase Therapeutics (IKT)
Curative Biotechnology (CUBT)
First two are on NASDAQ. CUBT on the pinks--but is included on the list due to a recently announcement agreement with the NIH to conduct clinical trials on their Macular Degeneration treatment.