Today's news was good, but should account for about 2 cents per share. A little over $1,000,000 saved divided by the number of shares. The impact on hd is relatively small, and the market assumes a high probability of hd approval by FDA.
The problem is that even assuming hd approval, current public knowledge of potential income does not allow the company to make a profit until 2011, assuming all goes smoothly with DIC. That is too far in the future to start bidding up shares.
Unless and until news of significant additional revenue is received, the prices stays pretty much where it is, perhaps edging up a little next year in anticipation of PHII for DIC.
Think of it as like buying a house in today's market. Why buy now, even if the house is great, if you think you can buy it for less within the next six months.
Market action today was caused because some people jumped in thinking the news would boost the stock, and ran dumped when it didn't.
I doubt there is any big seller dumping a large position at $.95, and I think the idea of market forces conspiring to keep the price low is worthy of the aluminum foil hat crowd.
And Dew, for whom I do have much respect and thanks for informative posts, the reason I write this is so other longs like myself don't loose faith just because their expectations of a near term price increase are not met. I don't think I can accurately predict market action with any precision. That is why I am not selling now with the plan to buy back later. Because if the company does announce an unexpected partnership, the stock can start taking off.
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