Thread: ARNA - Anyone Making Money, or Any Shorts Getting Ripped

Man,

ARNA is ripping me a new one. I shorted it on a Parabolic move, and since have been stuck in this thing. However longs are loving life, seems like up a dollar everyday. It was 1.70/Share little less than 3 weeks ago, and now today 11.90's after hour. 350% return, on a 3 week move, and everything overbought to the extreme, but we know things can stay overbought for as long as it takes. So far, have taken a -300 realized loss, and -500 unrealized.

Funny, I just sold off what I had in ARNA today. I've held it for three days and came out nicely on the short term movement.
The way ARNA has been rising has been very much like it has been FDA approved even though it hasn't. Personally I don't think it has room to go anywhere significant. I'm predicting another drop coming up soon, down to $9.50, possibly $8.75.

Well, the force is strong, and it'll be a while until they forget about it. Today record volume again, nearly 60Million shares traded. More than likely it'll continue this trend of, gap up, squeeze, end of the day run, and repeat. Hopefully I can stay solvent until the drop. When it does drop, it'll be back in the 1's, I just hope I can capture some of that drop. So far it's been drip drip drip for me as a short, also the short average is getting little too far from the stocks' price lol.

I'm still holding onto my position, it'll be a tricky setup next week but I think I have something pretty well mapped out .

This stock will go back down into "nothing" status. It will be a typical FDA approval play, as said above, one big gap up, even more significant than what we have seen and then a long period of digestion back down to the low 5s maybe even 4s I would predict.

Interesting that my Broker doesn't have shorts on it today, so I don't know if the MM's are trying to go reversal on this, or it's just a consequence. They have had shorts on ARNA almost everyday and as much as 10,000 shares available today however 0 shares available to short. We'll see how that effects the stock.

Originally Posted by 123456

Interesting that my Broker doesn't have shorts on it today, so I don't know if the MM's are trying to go reversal on this, or it's just a consequence. They have had shorts on ARNA almost everyday and as much as 10,000 shares available today however 0 shares available to short. We'll see how that effects the stock.

Affect it it did, what a start this morning. That downpour at open created so much fear. I actually bought some more while it was down there, in another 500 shares at 8.10

Who is your broker?

I picked some up at 9.9x and gonna hold them for the FDA approval. Let it be known if the FDA doesn't approve this ARNA shareholders will be in one hell of a world of hurt. (Unlikely they won't so yay)

Good call there Arthur, ARNA was even trading as low as 7.9x

What a day, went from -666 to +250 in 5min. Crazy, I bet big money was lost, not really sure if any shorts made much to be honest. Unless you were short from yesterday and covered in that drop, you didn't make much. Today morning there were no shares to short, so unlikely to know if anyone got any 12.40's short. I know a lot of long's stops got hit, all those who bought into 9's and were up 5000-10000, ended up getting their stops hit at a dollar below in the 8's and talk about being up 10K, and having a loser position in 5min at -5000. Not sure if the drop was dilution, since they said they were dumping 80M shares at 8.29 or MM's having some fun. It'll be interesting to see where this goes.

yeah for the most part brokers have had shorts in it except for a day or 2. i noticed that last week too

Originally Posted by 123456

Interesting that my Broker doesn't have shorts on it today, so I don't know if the MM's are trying to go reversal on this, or it's just a consequence. They have had shorts on ARNA almost everyday and as much as 10,000 shares available today however 0 shares available to short. We'll see how that effects the stock.

this was a 2 dollar stock just a few months ago. fda approval is most likewly priced in. what is your upside after it has moved 500% for the fda approval.

be careful! its always easier to trade leading up to the news then the actual news

Originally Posted by KingNikan

I picked some up at 9.9x and gonna hold them for the FDA approval. Let it be known if the FDA doesn't approve this ARNA shareholders will be in one hell of a world of hurt. (Unlikely they won't so yay)

Good call there Arthur, ARNA was even trading as low as 7.9x