reality check

Despite all the belief/disbelief and 'I have seen this before' and the 'CR is coming' calls the reality is that we have sustained a price level (6.5c-7c) for a week or 2 at the highest for the past 9 months. You have to go back to June/July last year to have anything over 7c.

There is work to be done to get it through 7c and the bids appear thin but no one seems to be selling unless they have to.

A few biotechs seems to be waking up - you can see it in little moves like ADO and NEU but so far its just taking prices back to middle valuations.

I was a realist a couple of weeks ago and expressed my doubt that the move was anything other than people playing games but the lack of sellers has me thinking that it might have a crack back into the 7s soon. If it doesn't happen within 1-2 weeks the MACD will probably cross back and I imagine some would use that as a trigger to sell something.

Only interesting change in the register I can see is this mob - but in a tiny amount so I don't think it indicates anything.

http://www.pershing.com/index.html