I’m maintaining my position in CytRx due, in part, to not reaching an adequate sell target. I’ve also come to the conclusion, right or not, that the page of wands reversed in conjunction with the 6 of swords reversed is indicating that the company is privy to a likely negative legal outcome with a settlement that will be forthcoming.
I therefore conclude, again wrongly or not, that quarter 1 of 2015 will see a spike up in the stock price that will allow a more lucrative exit point. The key for me is to sell that news in a timely fashion before an equity raise to pay the settlement costs. And again, I want to stress that I could be wrong about this.
Owning any micro-cap biotechnology stock is extremely risky, but this one in particular is risk accentuated due to the partial clinical hold in which the DSMB will scrutinize all aspects of the ongoing trials and due to the legal predicament relative to the stock touting issue.
Always consult a professional financial advisor before making any investment decision. And one should never invest funds in micro-cap biotech that cannot be lost in total.
Always be well…