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AMRN: This is grim here. Any pops should likely be faded and sub 4 in the future. It is a sad story for everyone who lost money, but at the very core of this story, is a simple truth: it's literally glorified fish oil in a high dose. That's it. That's why the company hasn't been or never will be bought out, that's why they lost the patent case yesterday, that's why they will eventually lose the appeal case next year, and that's why generics will hit the market either before or shortly following that. There may be some twists in the appeals court story down the line that randomly pops this name on pure hope and speculation, but for the immediate near term, it's grim and I think lower. Watching all pops for eventual sub 4 soon.
VVUS: Higher the better out of gate and looking to fade this. Would expect 4 to fail, but if not, would not fight past that especially if they bring the big vol again. But in no hurry to top tick it, just hope they can jam it a little in the morning and looking for the fade trade.
CERS: Absolute stupidity here of the highest degree. Higher the better early and looking to fade this back down to 4.50 if it provides enough meat.
CODX: Your daily reminder that this is getting ever closer to 5, congrats to anyone with the patience swinging short. Couple more trading sessions and we'll be there lol.
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See you out there!