WHAT were you referring to as detente with the fda? It sounds like they have been talking to the fda a long time and the talks are always fruitful but don't amount to anything.
Have you ever looked at gnbt. David Tice was long the stock at a much higher price. He is usually a short.
"The risk-reward tradeoff was already compelling, and it got even better this week with signs of détente with the FDA. Buying on the way down is my normal modus operandi, so the lower it goes the more I will load up."
I tend to do the same (average down ) but this is a time tested percentage failed stratergy best suited for trust fund types, or those who can double down very midterm and are tempermently not compromised to sell on break even points on the way up.
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