My suspicion after hearing about the results of yesterday's IMCL meeting was that there was a "pre-leak" from that meeting. Note the stock jumped yesterday at the open, before the meeting started. There has been heavy IMCL shorting with some discussion on the SI short threads.
OK, Lets assume that the "leak" caused the turnaround in the biotech market, which if I remember started about 10:30 Eastern, and really kicked into high gear in the afternoon.
For this much buying to occur in PDLI, MYGN, ELN, SEPR, NIBX, MLNM, HGSI, etc. the rumor must of spread very quickly and involved a lot of institutional people. And the institution that was selling 25,000 shares every time SEPR went up $.20 was not clued in. How do we get the inside information on yesterdays trigger? |
