Arena Pharmaceuticals, Inc. (ARNA)

[CrazyCoop]

don't know what happened there around 2:30 Wed afternoon. Was very strange. All day long (until the reversal @ 2:30) I thought the MM was gonna try to keep it down around 39 - max pain point for the friday options... well - nope that's not it, cuz he then let it run @ 2:30 PM. Who knows what Friday will bring.

I do believe there is a lot of intra-day shorting going on, and to me the intent really appears to be just to take the steam out of any rallies. And I wish FINRA would report ALL activity. I have yet to fully understand why FINRA-reported volume is usually way less than half of true volume. Why give us any info on short activity if you can't give us the COMPLETE picture, FINRA? Can't make informed decisions based on flawed stats. Am rambling.

Anyway, with the intra-day shorting to stifle rallies, combined with the large block trades every day @ the CLOSE (and at the closing price), I'm still of the mind that somebody big is accumulating. Maybe once whoever that is is satisfied with their position(and FMR is done selling), ARNA will finally be allowed to run. I do believe it is horribly undervalued here around $40, and some entity is working hard to keep us undervalued. For now.