observations... Slow day...stock moving down slowly...low volume...closing lower on recent successive days. We do not knowif the mini trend has legs yet.
Just looking at the BTI chart with a peak at $1.27...and now at $1.14....it could consolidate down to the $1 area...which would be a healthy pullback for next upleg with news. Most junior stocks with such a nice move up do retrace part of the sharp move...and a 50% retrace is common technically. This is not a negative occurence and would provide a nice buying opportunity again. If there is not good news in the next month or so, it may drift down until there is...with lower volumes.
If another Pharma study with option to license is announced, BTI should move up smartly. I am thinking that may be within a month or two...just guess. We shall see. None of the above matters to longs who are here for the journey...which looks very positiive so far. It is understandable that some wiill sell/take profits if they got in much lower.
'Risky' and J are traders and Risky said he made tons of $ on RVX as it bounced down from $26 to $1.10 over a few years. I haven't checked his postings over all that time over there so cannot be definitiive on his comments but it will be there for the record...and I do not know what his alias was before he became Risky.So, if true, stock was sold at the peaks or shorted and purchased on the dips by him. That;s amazing !
If I was a betting man, I'd bet the traders are selling bits on this down leg. Not saying that there is anything wrong with that unless one is pumping at selective times...or talking 'buyout' at this very premature time.
I noticed that Dr J. lives in Calgary, Risky lives inCal/Edm., Briscoe Capital (BTI's new IR Frim) is in Calgary; and RVX is in Calgary. Coincidences.