Days of Fire; When it rains it pours? Not necessarily. It has been raining for PVCT I think. The reports are very provocative in arousing my interest. But the market continues to scorch. Though I believe there has been some arson on that front, the short's position, which it was suggested might not be significant, has been a suggestion to me, that their opinion is long term, historically based and long term correct.
I will say again, whatever it is that the market is looking for, it is not finding and has seen the stock to be unfit for speculative consideration for the most part of the last 2 1/2 years.
The $0.82 level is ridiculous for what I have been reading about PVCT. Yet, here it is and here it has been before, at this level, several times in the last three years. The downward trend is unbroken since early 2011 and has demonstrated no recent market suggestion of anything but sustaining this trend going forward.
Long term volume has been decreasing along with its long term price decrease.
So, what's wrong with this picture?
It has been said, the SPA possibility is discounted already. This I do not believe. If, however, it is, then it will have to be one of the other possibilities that must do the difficult lifting. And, if the trend is to be interpreted as I believe it must be, and accounted for as it also must be, it may be heavy lifting indeed.
The symmetrical triangle has become something else. The bottom burned through, but the top is doing fine in its slope. Fine for a triangle, but not for a stock which has been heralded as PVCT has been heralded of late.
I believe it was possible to smell sulfur last Friday morning, when, who I will refer to as the arsonist, lit their match. This was what I considered to be bad form and at best, antisocial behavior. It was easy to do and was done with very few shares. It was done when no one was paying attention and evidently intended to cause a significant price point break.
But, neither is the company there to defend itself. Whether it could if it wanted to, at this point, I'm not sure. Whether it wants to, I'm not sure. By which I mean, it isn't interested in a price rescue or doesn't have a price rescue option for the meanwhile.
Unfortunately, the percentages of drop, however insignificant the short position is considered to be, has been significant. Even in the short term, the correctness of that position has been, continues to be, historically and in the long term, in indisputable accordance with fact. |
