Before The Open
But Don’t Expect Anything
Round up the usual suspects.
Make it look like we’re doing something.
Our ‘parabolic’ report on MRNA, was posted before the open, August 10th.
That post included the following summary:
‘This is the type of parabolic rise (and blow-off top) typically seen in commodities.’
Then, about seven minutes after the open, MRNA peaked and reversed into a two-day collapse over -25%.
Down-thrust energy, the amount of downward force in price action, was literally off the chart; the strongest ever recorded since MRNA, started trading in December of 2018.
Price action leads the news. This case was no exception.
This report, just out on ZeroHedge shows there’s a half-hearted attempt to draw attention to a so-called ‘rare’ side effect.
Even so, the insiders probably figure the jig is up and they’re bailing out.
The biotech sector (SPBIO) continues its bear market decline. Yesterday, it closed down over -32%, from its February 2021, highs.
Looking at MRNA, we see a now familiar set-up:
‘Spring to Up-thrust’
A casual look at MRNA, and you can see shades of 1929, in the price action.
We’ve had the ‘crash’, the 25% decline followed by a weak rebound.
Now, there may be a sustained and long term decline (months, years) ultimately bringing MRNA, below its all-time trading lows (below 11.54).
Charts by StockCharts