So I have been long ARNA since pre-ADCOMM and have once sold and bought after the meeting.
Now the problem with my account is that I have cash account without margin, so if I sell, I need to wait for 3 days for the funds to settle.
Fridays usually saw decline or ARNA, in comparison to the following week. And if I sell on Friday, Wednesday would be the earliest day to buy.
Although I am very long, I am not sure if we will see 9+ before 27th. But then again, 8.08 ain't that high neither going into ADCOMM.
What would you do to maximize profit? Without any real catalyst coming, as I assume that the shareholder meeting will be pretty generic, is there more down side for the early next week than upside?
Thanks to all and good luck!
the assumption that 8 is a ceiling til fda decision is reckless . always expect the unexpected. if u like fundamentals,, just hold long term for least risk and optimal profit realization. imo. sideliners get caught paying after big price rise. in and out trading both wins and loses. no one can predict short intraday price direction. make your own decision , and learn from your good moves and your bad moves. or, take advice from someone you trust. not an anonymous mb. assume every anonymous post is tainted with inherent bias. of course its not true in every case, but YOU have to make that assumption.
I have to agree the original poster should just hold at this point, go play golf tomorrow, have a good weekend and ignore the gyrations in this stock. And there will be gyrations leading up to the big day! maybe tomorrow over option expirations?
It would be nice if this poster did what I do and always keep 15-20% of my accounts in cash, so I don't get caught by settling issues and can do what I want along the way.
I don;t advocate using margin, and do not do it myself, but to each their own and their level of comfort!
I have been successful and not so in the past. And I must admit that with ARNA, it has been 50/50 predictable. So I have been pretty much just holding since it did not give me any significantly better shot at earning the extra.
The reason why I ask is because I wanted to see what behavior we might see a week before PDUFA. Yes it will be unpredictable and we will not know, but I still wanted to see if there is possibility.
BTW I will hear back within a week or so for margin. I got rejected once for reason I do not know so I had to reapply.
This close to PDUFA no trading by us whatsoever and recommend you consider the same. We expect on time approval and chance to sell much higher. Having posted that trade shares around a core hold is only viable alternative. Probably 2 to 1 trade ratio in favor of larger core. Don't be surprised though when the music stops your trading shares find a chair in someone else's account.
Sincere answer: hold and buy more if you can.
You should focus on the prize which is the approval. This is a once I a life time deal. Who cares about 50 cents drop here and there? It's been up up more than 1 dollar since AdComm (7.01 open on 5/11), and more coming. Approval should have happened 2 years ago and is imminent this time.
If this same deal is given to me, I'd do it over and over again.
Remember, focus on the prize and ignore the noise from now until the 27th. You will be rewarded big time.
You're risking missing the boat for pennies.
You already did that when you sold and bought again after adcom.
Just hold onto your shares. This is the dumbest post I've ever read.
You're saying you want to be long, but you still want to day trade...
I'm calling bs on this whole operation of yours.
Cause this happened with ARNA many times with 50+ cent different within few days.
I might be a little too greedy to catch a few more dozen cents, but then I am worrying that I might miss out on the rise on Monday or Tuesday like this week.
And I meant "long" through PDUFA.