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AMRN: This held really well today. As expected there were some shorts on it early out of the gate and probably forced it down, but that looked like a very real buyer to me all afternoon. Ideally this gaps down or opens weak & finds a bottom and I’d look at it for a long in that scenario. Pull into 11.50s maybe and look for that to base. If gap up/early strength I don’t think I’d chase it long, but not shorting that either, would probably just leave it alone in that case.
GERN: Expecting fireworks here before the end of the week. We should get a decision from J&J on this drug by then (Sept 30 deadline), and that will dictate the entire story, this is a pretty binary outcome for them. If J&J discontinues with GERN and their drug, this thing is worth $3 on a good day. Probably less. But if they keep the drug, that scenario is a little more complicated and we’ll address it in a future scan if it’s the case. Gut feeling is that the outcome is going to be a negative. I’m not gambling into it, but definitely lean short bias.
JAGX: Perennial shitbag of the day award. This company sucks, higher the better tomorrow eyeing the short. Into the 1.80-2 area would be ideal, I don’t think we get there but would be nice. I would probably start in 1.50s with room to add higher 1s and a 2 o/u guide for stop.
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See you out there!
– D
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