There use to be a sign on the Eumundi Pub roof that said "Free Beer Tomorrow " painted in large letters. We use to see a few excited tourists rock up the next day, only to see the sign still there and the business operating as normal. As a kid I thought this was really clever, after my dad explained that Tomorrow never comes.
We are another day closer to an announcement. This is true. But when they will pop is still unknown. But from company announcements we know several events are close. PTX100, PTX200 and stealth cell tech. Left field OmniCar could drop. The joy of a large pipeline. But the announcements will only drop when they are ready.
Market and share price wise fear and greed are still duking it out. Some holders are still spooked and have seen their holdings drop in value. They see no signs of good news and are scared it will drop more. So every now and then some will just get out to make the worry stop. Buyers, are still waiting to make sure it has bottomed. They dont want to catch the falling knife. But, at the same time they dont want to miss out. So when they see some buyers turn up they get twitchy. So price bumps, both up and down will be the norm for a while.
An announcement would have to be really really good to break us out of the bio tech market duldrums. As market sentiment will trump small goid announcement. This can be seen with lots of ASX companies in the last few months. So announcements being delayed now. although frustrating. isnt all a bad thing.
As has been seen on the SPX and NASDAQ, fear is starting to be replaced with greed. This is normal market behaviour. Investors trying to get back in before its too late. Bio techs are lagging, as they are seen greater risk. But they will tend to eventually follow the greater market momentum.
All we have to do is keep an eye on the pipeline. Keep an eye on the bank balance. Keep an eye on how the science is working. And wait.
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