Hi IstariI remain convinced that this stock has strong support...

Hi Istari

I remain convinced that this stock has strong support here at 10/20 level.
The australian super line done at 1.10 was very well bid for.
We are seeing some selling from that line for short term profit, this selling is persistent yet I feel relatively weak compared to the overall strength of support.
We saw strong selling i.e australian super at 1.10 without stock going down again we see selling just above here without stock going down I believe this will be dealt with in due course and stock will restest 1.40 and break.
Phase III axiron due next month will see new eyeballs looking at stock, overall strong year ahead for company.
I feel strong news flow from these levels will see fresh buyers take this stock higher, I feel it has the capacity to behave like MSB has from lower levels.
I could be wrong of course however again do feel that this should have a strong run from here and again feel 2.00 is not too much of a stretch.
Overall feel market has still got legs in general and will see dow run to 10000 in the next couple months this coupled with select risk rotation out of some commodities stocks should see biotech leaders post strong gains into the remainder of CY09.