biotech correction, page-27

cmk,
As I viewed the Nasdaq frenzy over the last months and the run on speculative biotech in OZ, I could not help but to draw parallels between the markets.

As I know from abdm, he also is invested in the US, it always is a good idea to spread your exposure, especially being tuned to the market from where the ASX takes most of its inputs.



Our broker did push the price, let it rest and pushed again with one rally reaching 6.5 cents from where it went nothing but downhill.

A brokerage firm entices the market with heavy buys on the way up which it can either hold onto and sell higher or distribute gradually.
It is the large single buys which stay in people's minds, they do leave an impression and whether smaller sales eventually account for the same shares sold, the impression of the massive chunks accumulated stay in memory more lively.

One only needs to analyse gamblers in casinos, they do tend to remember their wins much rather than their losses.



To trade successfully in the market requires keeping the books meticulously clear to only judge the trading success by numbers rather than emotional impression.



To me personally, I view the latest rally as broker induced and am not surprised to see the price below 4 cents.
As you said, nobody makes himself popular with stating such observations, particularly if they turn out to be correct, but I would argue that we are not here to make friends but to analyse the market to our best abilities and create a forum of knowledge rather than emotional exchanges, which to me are a waste of time.



Whatever remnant of uptrend was left for OBJ, it is well and truly broken now and reversed into a downtrend.
I therefore maintain my hold sentiment to see where a bottom can be found from where to bounce.