RE: ChiefThanks for the TA lesson Chief.
i have to admit, its pretty hard to overlook the knowledge of the fundamentals of the stock & management here.
i still see some similarities to last year at this time when it cratered after it had pierced $5 US last Jul 12 - it had been trading in the mid $5s since May/04, but after closing at $5.46US Jul 9, it hit a low of $3.42US on Jul 13 (just two trading days later) on much higher than average volume (over 1M shares on nasdaq alone on Jul 12/13) - that penetration of a key support level seems to have brought out a lot of technical sellers since there wasn't any news (like usual) and i sense the same thing could happen if this thing ever cracked $3US decisively.
it may not stay at $2.10 or $2.15 very long, but that would only be a 30% drop from these levels, as opposed to the almost 40% drop last july. perhaps the rally in biotechs will prevent this scenario, or friendly buyers will step in to prevent it from tanking again. would amaranth go short onc when the biotechs are rallying, perhaps to set up a financing at "higher" prices to help onc pay for all those manufacturing expenses? thats where i have a real problem ignoring the fundamentals.
all jmho of course.