RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Pre-bids $8.75.......Bigboyone wrote: Ok, I am following you now, Keep shorting unitl the price is favorable (lower) to cover,..Dangerous, but you really think that many traders have the $ and the cajones to do that?
On near 10 million volume you can bet it's not your neighbour and their family causing the volatility with ARLZ :P
They are playing the odds, though.
Here's what they can consider:
a) the pre-approval run up
b) the big short attack yesterday on anticipation of CRL
c) drug approval happens, intraday high of $6.70 was not retested immediately showing out of the gates this puppy does not have much strength on the demand side to take us past that simply cuz the demand was priced in, or they are holding
d) continue to add to net short position, covering on ask, given that the approval DID happen and there isn't much incentive to hold onto this short
e) likely the heavy shorts are also on the options side of things - take the price to where it needs to be so you at least win on the options side of things if we can stay below $6 or above $5 depending what you bought/sold.
1 min chart via stochastics (slow/fast) show how much emphasis is put on keeping the price low via how quickly things become overbought when the price is only moving 2 - 5 cents. That is not indicative of a healthy upward trend or strong momentum causing the price to go up if the range at which it is showing overbought is so narrow and tight.