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Shorting against the box was likely a large portion of that activity.
Looks like this is becoming reality:
Haha, Sarissa banked a +50% ROI during the orchestrated +98% rally/-50% plunge - induced by the suspicious upgrade as a prelude to the proxy war that attracted rapid buying by sorry souls who thought their get-out-of-jail opportunity had finally come. The savior of Amarin had finally arrived and taken over.
You laughed at me when I said he was all about the money and had made bank trading the stock up, then down to lower his basis -- all so that he could sell off Amarin for the cost of parts. Well, that is what is going to happen as his basis has decreased a whopping 50% from 4.56 down to 2.29.
On 4/10/2023 Knownothing wrote:
yup, that's true... and you can bet it will be a counter-trend trade when you will once again, mistakenly add more shares at the top. Get your money ready,,, double down or bust!
It's amazing... there is an inverse correlation between the degree of share price depreciation and the increase of assurance that AMRN will be sold for double digits in the next 12-18 months.
What's lost on these hopeful souls who have extrapolated visions of grandeur from what they think Sarissa's intentions are based on a few companies they've been involved with in the past, is that price is king.
They forget that prices reflect everything known about the market, including fundamental factors. The company's share price represents the consensus of value of all market participants.
Right now, those participants aren't showing much value for AMRN. Where are the insider buys? If the future was so bright, don't you thinK hedge funds would cover and go long? Don't you think Sarissa would add to their position (unless they want it depressed)? Don't you think Denner would at least verbally attempt to defend V sales, the company, his future plans?
That he hasn't is not "perception," it's fact.
Your hypocrisy is laced with accusations of "assumptions" on the part of those who correlate the crash of price(fact) relative to probable causes, yet your confirmation bias is in itself a bigger assumption! LOL.
Haha… I figured we were dealing with another Pinnochio post
“I did sell completely out 2 days before dudu and nobody followed me.”
Right … why don’t you practice what you preach and prove it with factual evidence of a brokerage statement of your trade.
Otherwise you’re just a big shot in your own mind, masquerading as an all knowing Amarin guru with fictitious posting diarrhea.
I have made it perfectly clear what my opinion was regarding Sarissa’s trading activity. The timing of the announcement of a proxy war just as the new year began, tax loss selling was complete, on the eve of the annual biotech conference, on the heels of a ridiculous and questionable analyst upgrade. That was part 1 of the plan; induce a rally up to the down TL.
part 2 was to short at this falling resistance, remain silent, allow chaos to ensue (in the form of complete BOD resignation) and then cover near the bottom as prices fill the gap.
Now, with a 98% gain up and 44% swoon, they have managed to lower their initial purchase cost, gain 100% control, and put Amarin up for a substantially reduced price tag - to the chagrin of retail bag holders with an avg cost basis in the double digits.
Sure the price could spring higher than expected off this bottom pattern, but Sarissa is no longer hungry to roll up their sleeves and make the necessary strategic improvements to attract a higher bid. Who knows how low they’ll go. Current shareholders do not consist of fresh higher high hopeful institutions. They consist of underwater shareholders who want out at any cost, hence they’ll vote in favor of a cheap buyout.
That’s my opinion. That’s been P-Dude’s opinion and so far it has unfolded exactly as outlined.
Those who argue against this sequela have no facts, or convincing argument - hence they resort to mud slinging.
There, is that detail better?
And do you have any positive circumstantial evidence to back your personal attack on P-Dude?
He presented facts that unfolded just as he predicted.
Nothing positive has surfaced since Denner took complete control of Amarin. The stock price dropped 44%, they appointed a no-name to be CEO, they have no “new and improved strategy” to boost revenue and stave off generics… all that remains (as it has since R-It) is the hope of a buyout - and yet conditions couldn’t be worse for attracting a bid.
You just bark, bark, bark, then share lame unrelated music or derogatory comments about the best nation on earth.
Peon little joke!
Maybe you should change it to “BuyHighSellLowJonSnow”, then it would ring true to your true character ;)
you sure did knownothing.
Crappy report led to well above average volume that produced an inside bar, the close of which was on top of the 20day MA and above yesterdays close.
So, knownothing, why do you think that happened? Don't you think price would have been hammered if it weren't for short covering that absorbed all the selling?
Sellers made big effort with no reward.... thanks to short covering
Late to cover shorts were hoping for a price breakdown in response to a disastrous ER to cover.. They got their desired ER, but TA is in 180 disagreement with all the gloom, hence, watch for a high volume short covering rally today
“You act like this is a company that’s heavily shorted. It’s not.”
Not necessarily true knownothing.
The short interest ratio is what’s most important. That is the real measurement of gunpowder or volcanic magma pressure.
Did you know that if something is said tomorrow that spooks shorts, it would take 7 straight days at current volume before all those little trapped rats could escape.
Translation? BOOM! That would cause a hell of a price spike.
You really should stop contending and start learning…
Never mind, that would mean you’d have to change your name
BB - he's celebrating for the wrong reasons. FA metrics, as you say, will suck!
BUT, price is king, and the TA pattern that has developed is forcing shorts out. The pattern is screaming , "bad news is priced in... the focus is now on the future."
Y'all's get-out-of-jail card will only be valid when and if shorty sniffs out a BO and throws in the towel. This will be the ignition that lights the bomb beneath price. No one will care about 1st QTR. It's all about the future. If that's mentioned in a favorable way, we will see heat, ash, and possible fire.
Take a loook at the squeeze characteristics of this setup:
- Triple bullish histogram divergence
-BollingerBand squeeze,
- Trendline break
-Green Impulse
-and ramping volume
Nobody has all the facts in the markets except those who take your money because you 'knownothingjonsnow' LOL
Trading is a game of stacking probabilities. Probabilities of what price will do in the future.
On 11/7/2021 I warned that risk was at its highest (due to the shift from higher lows to lower highs) and though the price was where Denner first entered (+4.00), I said it would drop to 2.90 then 1.10.... It did.
Then I said we were in price squeeze and prices would rally > 70% just as the exact same pattern did in 2021. They rallied +94% at the first of the year.
Then I posted a warning of a triple top pattern indicating massive selling as prices tested the long term down trendline (that everyone on this board has ignored). I said prices would drop to 1.35. they slumped to 1.23.
Then I said "it's time once again for AMRN to roam the blue skies above". prices have rallied +14% since then.
Each time, I had no facts, only TA circumstantial evidence. As it turned out, TA was spot on and led the way on every turn... in spite of your nasty posts that did nothing but mock.
ISEE appreciated +271% in one year and climbed nearly to the BO price (the stock is only up +15% on the news). Clearly, board room intentions/decisions have become very leaky.
Oh, and the stock was .92 on 10/25/2019
Will we begin to see the same runup for AMRN?
I hope so. I think so
exactly
of course he makes big money buying undervalued companies and then selling them, but do you think he just simply sat and watched his 4.50 basis melt down to 1.24 without a fight? Do you think the Baker Bros did the same? Don't kid yourself, they made big money trading AMRN - unfortunately at retail expense. Same with Sarissa
They have masterfully orchestrated a +94% rally, followed by a plunge of -45% since the first of the year. Now, they have set up the shorts for a barbecue. One rumor and the furnace starts.
That's how the game is played. It's all about smoke, mirrors and perception... not always fundamentals. They swim in dark pools and make massive fortunes doing just the opposite of what the public perceives.
Sarissa's plan all along was to profitably "trade" AMRN (up and down) beginning with the share price spike just after tax loss selling had ended to begin the new year - leading to a +94% rally up to 3-top resistance.
Then they were able to profit trading short during the ensuing -48% crash on the heels of the proxy war chaos.
This is why we heard squat from them. Denner left WS in the dark to attract the price devouring wolves.
The first indication of the completion of their short trade covering was 10 days ago when prices began to base along gap support. The subsequent AB and earnings date announcements were BIG clues of their position reversal and intent to begin to talk it back up through a succession of PRs and possible BO rumors.
There is massive overhead resistance. No way can this stock rally through such resistance UNLESS they give a strong indication of an imminent merger or buyout. How high can this runup if they do?
This chart shows the 50% Fibonacci retracement from top to bottom at 13.88.
With a high short interest ratio, bottomed out price structure, new plan for EU/US revenue boost, and buyout rumors... it is very possible to witness AMRN climb to test the 50% retrace at 13.88 before a buyout. This level also coincides with the lower border of the post R-IT channel and the pre-DU breakdown/retest area/gap fill.
If this were to happen, Sarissa could re-wallpaper their office in gold leaf!
Incidentally, Sarissa was able to induce such a runup or higher in nearly all of the companies they packaged for buyouts.
Adding more here. Looking for a close that prints a high volume 'reversal bar' today. There would be no better signal for shorty to cover. Besides, we are on the heels of a gap fill and the third of 3 down days. Naked positions must be covered within that time period to avoid the SEC.
YES! Atama ga ii ne Tasumakisama
GG - When you lose so much money in the stock market, you resort to doubling down (swinging for the fence) and blaming others for your poor investment decisions (i.e. bashing TA and those who only trade stocks)
There is a direct correlation between those who hate TA / daytraders and those who have lost the most $ in their "hold AMRN at all costs" investment - - FACT!!
So all you TA haters... I feel sorry for you.
My long trade posted yesterday (#407422).