Good questions Steve, but honestly I don't have much insight.
I begin by making the vague, general comment that each stock has its own personality and behavior; that really amounts to a metaphorical way of saying that a stock's movements reflect the personalities and behaviors of buyers/sellers. Obviously, the funds are the gregarious extroverts at this party whose personalities overwhelm everybody else during Happy Hour.
I don't have any statistics at hand concerning end-of-day sell-offs in general, but I believe that phenomenon might exist to a degree, and the reason given would probably be that day-traders like to close out their positions so that they don't have to hold a stock when the market is closed, a time during which they can't react immediately to any release of news. Of course, this holds for day-trading shorts as well, but there are far fewer of them, so their activity is overwhelmed by day-trading longs who close out at the end of the day.
So, with respect to Biotime, learning about how funds trade in general, and how the specific funds involved with Biotime trade in particular, would start to give you a feel for why the stock does what it does, when it does. Unfortunately I just don't know enough about either of these to be of much help. :-( Of course reading the boards also helps to gain insight into the thoughts of the average Joe investor, and this can also be of some (small) benifit, particularly with smaller stocks.
Yadda, yadda, yadda. ;-)
Anaxagoras |
