After the substantial volume yesterday, let's look for UPGRADES. Makes sense.
Institutions were front running yesterday w/ upgrades to follow BASED ON THE CONTINUING DEMISE of VVUS and Q, pending DEA Final Classification, a $65M milestone payment, and a launch led by a major partner (Eisai). The CC yesterday was loaded with interested analysts with much at stake for the clients of their prop desks. We'll see. Looking for it -
This is a market rally, not an ARNA rally. There could be some price rise in anticipation of DEA finally doing their job. This will be a good ST selling opportunity for traders IMO. VVUS price reductions are not a plus for Belviq pricing. LT bull, ST bear or neutral. All IMO, not advice.
discount brokers, citi, Merrill plunged the stock in the morning,(only ones who can do that) to turn it over in the afternoon to their clients insttitutional. They see the retail margin book and non margin, have statistics on correlation and now that a 5% drop results in 20% shares on book to be sold, for instance. JIMHO.