AVANIR PHARMACEUTICALS (AVNR)

[hondobud]

I have been long and held here thru many pops and drops and missed many trading opportunities. IMO there are still 10+M shorts stuck here and they want out for a cheaper price. KK moves slowly and there is a 30 day window for an appeal to Stark ruling. I do not believe there will be an appeal at all but a deal to move forward with partners or Europe might have to wait until this appeal window closes. So I sold 60% and am going to trade in and out, I think the shorts will use Market weakness, or other means to create selling (and buying) opps in the next three weeks while nothing happens as far as a buyout or partner, etc. I am not recommending a sell or anyone else to do this but I felt I was holding way to much as a percentage of my portfolio and took some profit on the court news.