Amarin Corp Plc (AMRN)

[FlyFishingStocks]

Hayward, Small caps and Bio stocks were sold hard the past few days. No way AMRN outperforms the index without some buyback activity.



The good news is it outperformed. The bad news, as you wrote, it can't break above .80/share. Each wave of buying was met with an equal or greater wave of selling. This falls in line with what I wrote 1 month ago,

Get ready for a long summer of sideways 'absorption' type price action as sellers and short sellers step on every Buy-Back induced rally.

And this prior to that,

Everyone on this board is excited about the BB - rightly so - but have they considered that the stock price may not in fact spike upward through all the overhead resistance? At the end of the day, big investors will want out if business prospects continue to deteriorate. They will seize the opportunity to sell into any rally. Add in the shorts and we could be looking at absorption price behavior below resistance. Once 50million shares are bought back, the price drifts lower based on the technical posture