$LOPX - Pin risk slides as more DIREXION LOW call traders are getting in https://www.macroaxis.com/stock-options/LOPX/DIREXION-LOW-PRICED?utm_source=dlvr.it&utm_medium=stocktwits
@Hou_Trader1 But there is a big difference this time. Whereas the small stocks like $PRPO would go down three times as much as the broader sector or market before now they are barely moving and many that I track were actually green on Friday while some only turning red right at the end.
Looking much better for bulls... the $XBI and $LOPX seem to have put in a bottom...
A meaningful recovery from such a brutal market for small names has to take time to base.
A quick jolt up only provides fuel for another new low. As much as we would all like to see out favorite stocks shoot up this is not what we want from the market overall.. slow and steady with higher lows and higher highs on the weekly chart.
@Magnus123 Also look at $LOPX the low priced stock ETF now trading at 6.37 or so (down from 10 in the beginning of when it started trading at the start of Q4).
@Hou_Trader1 A better proxy for small stocks we follow than the Russel indices which often contain many old economy/cyclicals is $LOPX which is an etf which just started trading late last year. It more accurately tracks the small bios and similar stocks I follow. It was up a smidge today.
$PRPO So I bought more stock here at the bargain 1.50 prices late yesterday and AH. Did not think I would get a chance again at those insanely low prices.
I think shorts have basically all covered since the premarket spike in late November and there is not much to support the price.
1. The company is selling cheapest it's ever sold for since the post covid days when you consider that taking out the 12-15M in cash the business is only trading for about a dollar a share ... this is a maturing cash generating company many years in the making and not a development stage bio.
2. The whole small bio market has been pummeled since early 2021 with the $LOPX down about 25% alone since the start of Q4 and there was a similar decline from Q1 through Q3 in similar stocks. The January effect should kick in like never before in this sector... you may have to act early Monday to get these prices again.
Of course it could go lower but I have plenty of buying power to catch any more bargains!
@Magnus123 @TheBiotechInvestor @laste_rounde I don't think so. The difference between now and big crashes is that the small stocks are all way down..Look at the $LOPX (low priced stocks etf)down 25% since July in what was mostly beaten down stocks since the Feb highs. We have already had the bloodbath and big money has used that as a hedge.
Don't get me wrong. Not saying things will be rosy only tempered.
