Replies to post #383723 on Amarin Corp Plc (AMRN)

[Meowza]

How much are AMRN shares being rehypothecated? Anyone know?

[ralphey]

YOu can still make money by shorting the buffoons ! The stock isn't broken as much as the company is. It was lead by inexperienced nincompoops who had NO understanding of the business they were in. Their repeated mistakes destroyed a scientifically sound product to the point that the likes of the Baker Bros and now even Denner seem unable to rescue them from their own stupidity and timidity.

Thero and crew should be taught at every business school as the classic example of how a great product can be destroyed by the management of clowns.

Short them down to $1 then wait and see

[iwanderer]

tke458 NO you should not lie down and take it. Use your TRADING LOGIC & SPIRIT and FIGHT BACK. SERIOUSLY!!!

[FlyFishingStocks]

This stock is broken IMO. That’s not TA. Just one lay person’s view of the situation. No matter what happens in the broad market, we are flat to down. IBB & XBI up big, we are barely up. When they go down, we go down a lot more.

Yes, you are correct. Here is the TA interpretation of what is going on.
First this, No matter what happens in the broad market, we are flat to down.



Each time the index rallies (Friday and today), big sellers activate exit orders - knowing they will get filled as ETFs have to purchase AMRN when money flows on the buy side.

This creates absorption of the buying as sell orders get executed at a desired level, resulting in AMRN going nowhere ("flat"), while the index rallies strongly -- hence the divergence.

When they go down, we go down = Monday's price action.


Now the kicker...
Here is why this price action is so concerning (I shared this before on deaf ears):

This is why crash is king: when liquidity dries up, the entire structure of "there's always a buyer" collapses. When there are only sellers and few buyers, markets crash. When the underlying value of the asset can no longer be known with any certainty, it's not rational to gamble that the first or second leg down is "the bottom."
--Charles Hugh Smith

On May 5 I wrote:

Gotta say, this lack of any bounce (Dead Cat or otherwise) is very concerning. There is no buying pressure at all... only selling - probably big company liquidation. This makes it possible to have a flash crash to lower levels (1.27 or .93 or .78).

Once again - in a more dire sense - the stock is faced with liquidity that is drip drying, yet selling pressure is ramping up (orange curved arrow in the chart above). To add insult to injury, a nasty Descending triangle has developed (daily chart) which has nearly completed tracing the apex....
What does this mean?...

WATER FALL AHEAD!!