Replies to post #424408 on Amarin Corp Plc (AMRN)

[ramfan60]

FFS, I'm locked and loaded.

[Whalatane]

FFS. we are anticipating a volcano ...just not like this one near my home town .
https://www.imdb.com/title/tt21439528/

Kiwi

[Snd101]

Locked and loaded as well. If it remains around $1 for more than 6 months, I might add some more though.

[Jasbg]

FSS, you mean something like this - that happened in Denmark some 20 years back 🙂

[DAR53]

FFS, where do you think AMRN will be in 3 and 6 months based on your TA? TIA

[DAR53]

FFS, maybe a better question is where do you see the cherry bomb sending the sp to? Back to the ice line or maybe higher short term, i.e., 14-21 days?

[FlyFishingStocks]

Yesterday's AMRN price action was quite amazing. The general market gapped up sharply to an all time high and then traced an upthrust of the high, closing at a daily low, down -500points on the DOW. The aftermath was an ominous bearish engulfing bar on all major index charts.

Was AMRN affected? Nope. It's wiggles continue to be muted while under the influence of apexification .... waiting for a sharp breakout.

There are 18 million shares short. The company wants to buyback 50 million shares. With a SIR at 11 days due to the low volume, what if the company buys most of those shares suddenly while prices remain in the vortex triangle? If they are in the throws of exerting this clever strategy, the stock price would behave as if 68 million shares were short and suddenly squeezed to cover. The MEME stock traders would no doubt catch wind of this and jump in to amplify the effect.

In essence, AMRN could orchestrate wielding their buyback weapon within a combination of technical conditions, timed with some sort of good fundamental news - resulting in a R_IT like rally out of this corner of hell.

REDDIT are you listening?

[FlyFishingStocks]

Rally today based on past 2 day's price action

[FlyFishingStocks]

For those interested in this current AMRN price pattern, I wrote about it in my book:

The Vortex Strategy

The Vortex strategy is based on the Classical chart pattern of a symmetrical triangle. Price and indicator behavior during such consolidations is widely misunderstood and misinterpreted. This pattern frequently produces bearish MACD histogram divergences on daily charts, due to its characteristic decrease in volume as prices zigzag towards the

apex. More and more short traders are deceived by this signal and get fooled into positions that they later regret. This segment goes into depth as to why these illusions appear as well as how to, why, and when to take advantage of them. The examples that follow show how this pattern often ends in explosive short squeeze breakouts that develop into sustained trends.

As the name implies, the vortex represents the characteristics of a tornado. As prices oscillate between the borders of the triangle, many traders are pulled in by false signals acting like the vacuum effect of a tornado. This in turn produces a “coiled spring” effect, which eventually releases near the apex, shooting prices sharply up or down. Occasionally, these patterns, when traded long, are accompanied by high short interest ratios—contributing to squeeze conditions that have the potential to boost prices up further on an upside resolution.

The strategy is effective in all market seasons. However, it is most effective when overall market volatility is high and traders are vulnerable to market whipsaws. In such situations, the pattern acts to shelter price action from general market volatility by the characteristic nature of its low volume and low volatility. As prices consolidate toward the apex, they become more influenced by the pattern and less by the outside swings of the broader market.

The underscored sentences in red couldn't be more true than what we are witnessing today.