ARNA - Arena Pharmaceuticals Inc - Page 9

Why did i sell my shorts at 6.00 for a 50 cent gain

Wow what happened here

bad news a few days ago, thinking the bottom just about has to be in at this level......

more bad news today AH but i still think a nice bounce will take place

Maybe. Maybe not. Longer term i dont think this company survives.

i would bet this compnay survives, but im just in for a little bounce anyways

Doing much better than I thought it would this morning

Developing a bottom.

r U sure that U sold your shorts?
I think U have some illusion

Could be. No way I'd go long even if shares were 1 dollar. Going to take years and a huge amount of capital for them to dispel the cancer worries etc. And even if they manage that, by the time it hits the market it may already be obsolete.

On fire today. Pinch looks to be starting.

Interesting opportunity here. Usually these plays are good for a nice bounce even when data is bad. However there is some debate over how bad this actually is.

Here's a seeking alpha article from the 21st.

http://seekingalpha.com/instablog/39...l?source=kizur

Important info:

Bloomberg reported that "a panel of outside advisers to the FDA voted against recommending the drug for approval, citing concerns about tumors seen in rats in early-stage testing of the drug. … Of particular concern was the increase of mammary tumors in rats treated with lorcaserin, the committee said.

But.....

According to the FDA brief, “The mammary tumors are attributable to increased prolactin, a mechanism peculiar to the rat.”

Anyways, the author concludes with this.

The FDA owes the public a commitment to competent scientific evaluation in its drug-approval decisions. It should act consistently with its prior scientific findings and industry guidance, promptly overrule the lorcaserin panel's mistaken vote, and set the record straight on lorcaserin’s cancer safety findings.

So what to make of all of all of this? Who knows, but rumors could turn this into a spectacular bounce play. Huge battle going on right now with the sellers but finally some strong support on the bid. I have no position but watching closely.

Trying to break intraday consolidation .....

Interesting Pre-market activity.

nice spam, scotty

There should be a bounce leading up to the 22nd, but to hold through the decision is a major gamble.

I agree Karl

Amazing 45% of shares short there is gonna be covering rally towards OCT 22.

lol... just got a notice in the mail of a class action lawsuit against ARNA

Fundamentally is so-so, but large short interest....

Not in ARNA right now, but it's looking pretty good at $1.61. If it drops a few more cents, I will enter. I tend to look for a 15-25% gain before I sell (in this recovering market), and am rather confident ARNA would hit this with relative ease. I may put a bid in at $1.58 - the yearly low is $1.51.

EDIT: I may even sell at the above to break even, and hold the remaining shares long-term. if it came to going bankrupt or being acquired, I believe ARNA would be acquired, IMO. If the obestity drug is approved, and that's a big IF, ARNA would be at $14 or above, IMO.