Who Remembers DNDN Flash Crash April 2009? $22 to $7.50 in Under 3 Minutes... Opened $26+ AH
Halted at $11.88. 8 million shar trade anyone with stops at +/- $20 were taken out "at $7.50".
25 minutes later DNDN announced stellar news for Provenge. Stock remained halted rest of afternoon but opened up after hours above $26 and us smart traders very gladly sold.
Remove your stops now, place any lowball limit orders today, lock up shares with limit order sells well above current limits you might get lucky, and IF ARNA sees any huge gap ups once we get news strongly consider selling at least some shares on the pop as wall street will short the new top hard to refill gap soon after.
Chance ARNA gets some sort of flash crash prior to DEA and EMA news. Be ready.
Didn't know anything about stops at that time...lol
Wasn't as lucky on Aug 2011 short bear raid (which it was) where short interest moved from 14M to 18M (and that's only a data point in time) and the invisible bear raid that's been occurring the last 17 months now with dndn, where short interest has moved from 18M to 50 million today because large institutions want in...
Same scenario is happening with Arena.
i watched it play out in real time ... a most valuable lesson with zero tuition: neutral observer. AVNR experienced a mini DNDN going into approval. The DNDN lesson may have been the sine qua non for my decision to hold through decision.
Great post 'beanidi'
Rode it both up and down...didn't have a stop. It was one of the most amazing things I ever saw. I didn't get spooked and later sold all for $43 months later. I didn't get the top but probably ended up for the best. BTW I think its close to an EMA decision too.