Nice steady upwards movement for a few days, lots of positive articles and market sentiments, its only competitor gets a Cyprus-like bailout that was announced before market, ARNA goes up for half the day then BAM! a 5% drop on no news. This has nothing to do with technicals or resistance levels or moving averages, its illegal. Anyone have the names of funds or MMs involved in this? we need those for the SEC investigation
LOL.....I swore them off also and purchased a 100 contracts for June this morning. :-)
Between you and I we are responsible for today's drop.
If I sell all of my shares, the DEA will announce the next day.
It's ARNA, that's the reason. Don't fall in love it will only break your heart. You have to trade this to make money. How many people do you think are hoping to sell on an approval spike after all of this BS short manipulation. One day ARNA may be a good long term holder, but until shorts are out, beware. All IMO.
I disagree, I do not believe that longs here are looking for sell the DEA final scheduling. That is not the catalyst for the run up. That is the starting gun for this race.
Shortly after this launch in the US we will get another catalyst, the EU final decision. Now if that is a recommendation for approval of the marketing of Belviq, another major catalyst will follow shortly.
The announcement of a marketing partner with upfront cash payments, or as I have suspected all along a buyout announcement (again just my opinion).
61.4 million shorts are going to find them selves in a pot of water being brought up to a boil before they realize it.
you are right. its a stock you have to have balls of steel to hold and once approval comes many will sell at the earliest opportunity because of all the #$%$ they've been through.
Personally I think they didn't want to disclose their short position which I think comes out today. So the dead line for them must have been yesterday. The shorts just don't want to give it up.