Krusty,
Yes it is frustrating for many including me. Since the 4C on July 26th The SP is down 22% but I don't think it has much further to go, I expect that there will be support around 40 cents. The downturn after the 4C IMO wasn't justified on the basis of the 4C content and on the day it actually opened up but the sellers did their usual stuff and started selling into the announcement.
I don't know why the SP weakness continued but it has. However I think the pull back has been way overcooked and anyone selling now is throwing the baby out with the bath water IMO. There is undoubtedly some sustained institutional buying going on but it is very cagey and if anything is adding to the negative sentiment and exploits any setup where it can nudge the SP south without needing to invest much in the way of volume.
The SP has already reached technically oversold territory and a cent or two off being seriously oversold and also a potential significant double bottom is only a cent or two away as well. It is worth revisiting the August 1 newsletter which reflects that a lot of good stuff is happening in the product development area and key certification of Alexium's products has been achieved.
Ignore the SP and think about the business, it is a no brainer.
AJX Price at posting:
41.0¢ Sentiment: Buy Disclosure: Held
