Kenmoor,yes,he's offering a negative view of what could happen,but he may not be far off.He's just stating an opinion,probably based on what is usually seen around the markets when companies are pushing their stock.
We all want him to be dead wrong and see a big runup in share price,but none of the pieces needed for that seem to be falling into place,namely timing and eyepopping expectations.
If that run does occur,we'll all be breathing a sigh of relief.Because,while there are thoese that have resigned themselves to the next phase and the numbers there,probably because they no longer expect a breakout either,a lot of investors did look to the first good hole for a run and a decision on whether to be able to sell,or hold on for Phase 2,but in the black.We're all in this to make money,not have dead money for years at a time.Each person sweats it out differently,and all opinions are equal.