Re: The chart set up looks awesome imo....
in response to
by
posted on
Dec 03, 2019 10:06PM
RVXOT....appreciate you sharing your thoughts and insights on the fundamental financial picture, and I whole heartedly agree that the picture is far from being pretty.
One thing, from my experience....I don't doubt for a second that you are right in your assessment that a good many, scratch that....more than just a great many but the VAST MAJORITY of experienced investors will take just two looks at a company like Resverlogix. The first look will be into the financial picture, and the second look will be away for a more promising investment.
And in the vast majority of cases this is a good way to avoid disasters....because in my experience, 90% or more of the time companies with Resverlogix's financial history end up disappearing.
But I would equally argue that in those rare cases, less than 10% of the time....and probably even less that 5% of the time, when companies in what appear to be dire financial straights do succeed, the gains can be mind blowing. And with the valuations assigned to approved drugs with development stage biotechs....I think this sector is probably the best place to go looking for distressed companies to invest in if you have the risk tolerance and are looking for outsized 10bagger+ gains.
Far from a sure thing, and a very real risk of total loss of course....I thought that Top-Line faliure meant it was time to pull the sheet up over Resverlogix's body....but with MOCA data and eGFR numbers still to come this patient still has a strong pulse, even if it is in the ICU.
Two more trading days before we get some more meat to chew on, while we wait I'll keep pouring over the chart which still looks awesome to my eyes. I would have liked more volume Tuesday, but at least we didn't fall all the way back to the 50K area again....
We should have a short interest update NLT Thursday....and I'm expecting to see a decent drop of maybe 100K or more. I noticed that the borrow rate was at ~44% today, down from previous levels around 48%, not a huge drop but enough to suggest to me that shorts have been covering....here's hoping they've been covering off, and doing so because they see the same potential that bulls do.