If your long close your eyes until mid December.....
This is just one long epic nightmare that will resolve itself in December. I'm not a basher of any sort just do not risk money you can't afford to lose!!!! Wall Street if a terrible thing as the market makers take the stock down at their leisure. So like in my previous post they can start selling again tomorrow and drive the price under $1.80 and there is nothing you can do about it. The simple truth is this the smart money went short above $10 so lets just say they sold 1 million shares short 8 months ago. That smart money covered their short under $2 and made 8 million dollars; they could then take the profit and go net long another million shares to give them more ammunition to drive the price down further in the future. Which is why they tell you never try and catch a falling knife. Until you see strong reversal volume it's just dead money!!!!!
Most important lesson always follow the smart money in!!!! AMRN fortunes will change when you see a strong volume into the stock; which isn't now. There are still numerous pending new items that will further erode the price of the stock which will include effects that cuts in staff will have on the prescription nos, also script data from the last week few weeks during the DC shutdown, and also analysts reactions or downgrades following the FDA decision. If you get horrible script data in one week the shorts will cut the stock 50% based on lower growth and demand plus the uncertainty around the FDA approval. Do not catch the knife in October!!!!
IN OTHER WORDS CATCH THE KNIFE IN THE LAST WEEK OF NOVEMBER when there is a real catalyst which is the DEC 20 FDA date. Everyone and their dog is now predicting 100% rejection so wait for the bottom and thats when you go long; the shorts will get nervous going into December. There is still I believe a 30 to 40% chance of approval if AMRN management get their butts in gear. First collect as much data as possible from prescribing physicians to get more real time data on physiological data that they are seeing with respect to LDL levels. They are treating over 6000 patients per week so they should be able to get some more data to present to the FDA before Dec 20th.