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Post by BD on May 30, 2014 10:25:47 GMT -5
For those who are interested in such things:
11:24 EDT MNKD theflyonthewall.com: MannKind climbs, retraces parabolic intraday gains
The stock has been on a parabolic rise today and after peaking at $9.46, a new 52-week high and multi-year high, has begun to retrace. At the current price of $9.07, next support is at $8.90. On a very long term chart, price movement has the appearance of a volatile rounding bottom, which is bullish for price, with the $10 area as major resistance. :
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Post by chmith27 on May 30, 2014 11:47:38 GMT -5
what does that mean next support is 8.90 when it flew right by 8.90 to 8.50s then we are back up into 8.80s.... that T&A crap has been about as useful as one's horoscope with this stock and any other biotech where the usual rules of TA just don't mean squat. it seems like the >50% of the time that TA incorrectly predicts something gets forgotten, again i reference astrology.
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Post by liane on May 30, 2014 11:54:52 GMT -5
chad, it's just someone that thinks they know TA. Today was just the hedgies running it up so they could short it down to shake loose a few shares.
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Post by babaoriley on May 30, 2014 12:10:34 GMT -5
what does that mean next support is 8.90 when it flew right by 8.90 to 8.50s then we are back up into 8.80s.... that T&A crap has been about as useful as one's horoscope with this stock and any other biotech where the usual rules of TA just don't mean squat. it seems like the >50% of the time that TA incorrectly predicts something gets forgotten, again i reference astrology. Chad, are you taking a swipe at astrology and horoscopes? Well, then, exactly how do you manage your life? |
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Post by BD on May 30, 2014 12:15:56 GMT -5
what does that mean next support is 8.90 when it flew right by 8.90 to 8.50s then we are back up into 8.80s.... that T&A crap has been about as useful as one's horoscope with this stock and any other biotech where the usual rules of TA just don't mean squat. it seems like the >50% of the time that TA incorrectly predicts something gets forgotten, again i reference astrology. The first rule of TA is that it doesn't predict, it just suggests probabilities. You never blindly accept that the stock will bounce when it hits a support level. If you know how to read the charts, and you understand just a handful of the most universal indicators, you have a leg-up in terms of timing buys and sells. Traders know how to use this information constructively. Just because you may not, don't dis it because it seems like BS. |
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Post by chmith27 on May 30, 2014 12:21:07 GMT -5
i'm just saying it doesn't apply to biotechs around binary events, at least i've never seen it applied consistently to mnkd as a predictive model with any degree of precision or accuracy. it seems to be more functional in hindsight.
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Post by notamnkdmillionaire on May 30, 2014 13:27:29 GMT -5
what we are seeing today is HFT algorithms in action.
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Post by BD on May 30, 2014 13:38:57 GMT -5
i'm just saying it doesn't apply to biotechs around binary events, at least i've never seen it applied consistently to mnkd as a predictive model with any degree of precision or accuracy. it seems to be more functional in hindsight. I have to disagree, there's no reason for TA (applied to the purposes it actually serves, which is to quantify human psychological factors) to not be applicable to MNKD today, this week, this month. The times I totally ignore it are during a binary (or Black Swan) event itself. What MNKD has done today is a pattern I've seen again and again and again in various stocks. No big surprises. And the HFT's just exacerbate the moves, because they all contribute to collective self-fulfilling prophecies, lol |
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Post by chmith27 on May 30, 2014 13:43:59 GMT -5
but wouldn't you currently consider us essentially in the midst of a binary event? kind of a quarternary event with partnership and all...
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Post by BD on May 30, 2014 13:52:56 GMT -5
No, I'd consider the binary event to be the event itself ("Afrezze approved! Ad-Comm votes 23-1! Oh no, we got a CRL! etc.), not all the noisy pre- and post-event posturing.
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Post by babaoriley on May 30, 2014 17:01:02 GMT -5
I'm looking at the Event Horizon coming up, rather than the Binary Event. Someone's going to get sucked into the Event Horizon, will it be the longs or the shorts? And what will it look like on the other side of the Event Horizon? May be better over there!
Spiro, this MNKD dog of a stock couldn't even hold onto $9!!!
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Post by spiro on May 30, 2014 18:12:47 GMT -5
Baba, You may be right, this dog of a stock was $7.01 on May 14 and couldn't hold on to it's lousy $2.45 gain at $9.46 in 13 trading days. Those 68 million short share owners must be happy MNKD only closed at $8.90 today. Hitting those big intraday highs must really make those shorts happy, it allows them to short some more. Maybe next Friday this dog will hit $10.75 and only close at $10.25. Damn, I love dogs, when they keep moving up and giving some back.
Spiro here, enjoying the moment.
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