Unlike a lot of TA traders, I never want to trade in trash cans. Too many great stocks out there for my cash. Shorted/attacked stocks recover over time. Trash cans don't.
I'm having a real hard time reading Concordia but it was the #1 bullboard Friday checking today with 3x as many views as #2 some something is up here from a bullboard "tool" perspective.
I sold today because the tools here seem to tell me they want to drive it down. But before I rebuy, I want to check out the stench. Could be more than Lattice with her wide open legs.
Concordia = AMCo right now because they paid a fortune for it. You have a bunch of Private Equity guys (mega money sharks) around this. Pulling levers all over the place. Short sellers and bashers turning this into "rag doll" manipulated trading...
Honest shareholders, don't be puppets here otherwise you'll be like notwrong buying and selling at the wrong time and being crazy about it after the fact.
If this is a great stock, you want to average down. If not, you want to hold (and/or consider your exit).
Now, is this a great stock? How many people here researched Amdipharm and Mercury?
https://uk.reuters.com/article/uk-cinven-idUKBRE89E0RB20121015 Patel sells Amdipharm to Cinven
for 367 million pounds or $590 million USD Cinven in 2012 also bought Mercury for
465 million pounds or $747 million USD
AMCo in 2012 is worth $1.34 B USD
AMCo in 2015 is sold to Concordia for $2.8 B USD Is that right?
And now it appears that Cinven is getting heat about legacy drugs begin purchased and jacked up in price?
And no Lattice, you still can't get into my pants because I'm sure this post is getting you "hot". I'd have to wear a full body condom and that's not my thing....
As for BS rumours and the trading that follow it. Confirms that most traders are complete idiots (well 80% of them, those are the losers).
I wouldn't buy a thing from this guy:
https://www.telegraph.co.uk/finance/newsbysector/pharmaceuticalsandchemicals/10763850/Vijay-Patel-the-Bollygarch-with-the-right-prescription-for-profits-in-big-pharma.html