Is it a coincidence that the stock topped
out in March, the same month this 'deal' was
completed?
I don't know if it is too useful to find a reason
after the fact--I just try to bail at -20%, and
wait for the chart to bottom out. When I break
that rule, twice this year, I've been sorry. You
might consider doing mental stops if you aren't
already.
But if it is important to find a reason you could put
a third of the blame on the poor performance of the
biotech industry in general, another third because
it's a small/micro cap stock, and a third of the
blame on the dilution effect. Lots of things working
against it--what bothers me is the fact that biotech,
like the market in general, has turned up a bit in
the last few weeks--but a lot of the smallest issues
like GZTC have not showed any life yet.
quote.yahoo.com
I had guessed that GZTC had bottomed out back in August
at around 5 3/4...and there I got in. It made a nice
little run up to nearly 7, then, as you know, resumed
it's slide. I bailed at $5...and am waiting for the
chart to look like it has bottomed again.
--MM |
