[CrankyJay]

Keep an eye on SPPI (biotech/pharma company) for the next couple of weeks. Look at the 1 month chart. Basically went from around 10-11 to now over 14 in pre-market activity. It has almost a 50% short float and if the value keeps rising there is the potential for a massive short squeeze which could cause this stock to pop up into the 20s. Recent news of good drug sales and a favorable outcome of a lymphoma cancer drug ZEVALIN has been the cause of the recent lift.

Up over 7% today.

[Divvy]

I do hope Arena goes back up. It's pretty painful to watch it drop like that.

[arbok26]

ARNA gaf i got in at 11 and need some advice... probably not the smartest thing i've ever done but im learning...

its $7700. should I take half back now @ $9 or just sit it out till after the announcement... i believe Arena will get approved but reading some of the Adcom advice makes me a bit indecisive - many voted yes but was a difficult decision... geez way to make it uncertain! i bet they all have stock on this...

hmm i don't want to lose it all... even if it drops to $2 - at least ive taken out $3000

man - and i got screwed by a bear raid on my first day on ARNA.... first hand experience at the dirty tactics on wall st

[FlashFlooder]

You have to decide for yourself what you're willing to lose. Personally, I would hang in there.

Biotech is extremely risky and you really shouldn't be dabbling in it unless you're ready to lose the money you're investing with.

It can also be very rewarding... Like I said, I would stick it out. Probably the worst feeling would be to watch it skyrocket right after you sold your shares for a loss.

re: the adcom advice and the articles released in the last few days speculating on them... You really need to do your due diligence when investing, and if you had you would know that the authors of these articles are known ARNA bashers. Before the adcom, they were calling for a flatout rejection. They have changed their tune ever so slightly, and are now calling for a delay. They are just as wrong as they were then, IMO. The stock was recommended by the panel by an overwhelming majority, and there is only ONE business day until the deadline. Usually, delays or rejections are announced by now. In fact, I believe a delay notice this last in the game would be unprecedented.

Ultimately, you just have to do whatever makes you comfortable. Biotech is very nerve-racking, and might not be the best choice if you're just starting out.

[arbok26]

Thanks for that.

Still on ARNA, I think ill take some shares out just to make sure i don't lose it all but leave the majority in. I feel like I have a lot more to lose buying at 11 than most people who bought in early.

So i also want to know whats going to happen if there's a rejection on the 27th and the share price tanks - should i put a stop limit in to make sure i don't lose it? Will that work? I suppose if that worked everyone would do it?

I mean if its going to drop to $2-4 like everyone says can I put in a stop at $7 and limit at $6.98? Or will the share price just go straight past it?

What are everyone's plans for rejection if it occurs?

[FlashFlooder]

Thanks for that. Still on ARNA, I think ill take some shares out just to make sure i don't lose it all but leave the majority in. I feel like I have a lot more to lose buying at 11 than most people who bought in early. So i also want to know whats going to happen if there's a rejection on the 27th and the share price tanks - should i put a stop limit in to make sure i don't lose it? Will that work? I suppose if that worked everyone would do it? I mean if its going to drop to $2-4 like everyone says can I put in a stop at $7 and limit at $6.98? Or will the share price just go straight past it? What are everyone's plans for rejection if it occurs?

Just as you suspect, putting a stop on it will probably have little to no effect. Most likely, it will gap down right past your stop and the trade won't execute until it's well below the stop point. If you put a limit it on it as well, it won't execute at all. I would highly recommend NOT having any stops set, as the price will likely be very volatile, even if the stock gets approved. You don't want to get stopped out if there's a flash dip like the one we had Friday.

Rejection is EXTREMELY unlikely. They issued Qnexa a 3-month delay, and that one has a proven risk of birth defects. ARNA's drug has no such issues. At worst, we're looking at a delay. In that case, I will not be selling my shares for such a discount while the market is busy overreacting to the news. I'll hold for eventual approval, or at least until the stock returns to sane levels. IMO, you're going to lose if you try to rush to sell your shares.

[HowardRoark]

Looks like ARNA dropped again.

[FlashFlooder]

Not surprising, really. None of this action really means anything anyway, no matter which way the decision goes tomorrow.

Of course there's going to be a lot of profit taking today, a lot of people are up 300-400% at this point. Why risk it?

[Degen]

yeah, definitely decision time for that stock...

[arbok26]

Looks like ARNA dropped again.

hopefully the last day for a while!

[HowardRoark]

Not surprising, really. None of this action really means anything anyway, no matter which way the decision goes tomorrow. Of course there's going to be a lot of profit taking today, a lot of people are up 300-400% at this point. Why risk it?

You said you cashed out enough to cover. How much were you up prior?

[FlashFlooder]

I've been in since the low $3's. Never did get around to covering though, was planning on doing it when it hit $12 :-/

price is climbing back up now

[TylerD]

Keep an eye on SPPI (biotech/pharma company) for the next couple of weeks. Look at the 1 month chart. Basically went from around 10-11 to now over 14 in pre-market activity. It has almost a 50% short float and if the value keeps rising there is the potential for a massive short squeeze which could cause this stock to pop up into the 20s. Recent news of good drug sales and a favorable outcome of a lymphoma cancer drug ZEVALIN has been the cause of the recent lift.

This is my only position right now and have owned shares at 13.62 since Feb. When the news came out about the short interest and it started going up I added at 14.30.

After yesterday's action and volume I am pretty excited to see what is going to happen in the coming months. If there is some good news and the price climbs the shorts covering could cause some huge gains.

[FlashFlooder]

It appears ARNA was just granted the patent for the drug:

http://patft.uspto.gov/netacgi/nph-P...na&RS=AN/arena

Not sure how this relates to FDA approval, but it feels like good news to me.

[CrankyJay]

This is my only position right now and have owned shares at 13.62 since Feb. When the news came out about the short interest and it started going up I added at 14.30. After yesterday's action and volume I am pretty excited to see what is going to happen in the coming months. If there is some good news and the price climbs the shorts covering could cause some huge gains.

Good to hear someone else here has a position in this. It seems everyone is expecting decent Q2 results.

edit: Nice, just hit $15

[Soka]

Does anyone know of any publicly traded company that deals with investing in water resources? You know, like instead of "Big Oil" we have "Big Water" ? Obviously there are a ton of random water utility companies, but I'm looking for something more akin to going out and buying up water deposits.

Anyone know of anything similar?

[FlashFlooder]

WTR (Aqua America). Great company with decent dividends. They've been one of my main holdings for years now.

They're basically in the business of taking over water treatment for municipalities, and it seems to be working out for them.

[TylerD]

Good to hear someone else here has a position in this. It seems everyone is expecting decent Q2 results. edit: Nice, just hit $15

So, in the past 2 weeks the short interest has increased by 2 million shares and is now 28.8 million of the 59 million outstanding. I guess it could be longs hedging their positions but that is a ton of short shares.

edit: I was wrong the report is from 2 weeks a go. So, 2 weeks a go there were 28.8 million short shares

[FlashFlooder]

Today is the day, ARNA-Gaf . Buckle up, and good luck!

[arbok26]

Today is the day, ARNA-Gaf . Buckle up, and good luck!

woot!!! good luck ARNA long gaf!

gosh - i have to go to bed in an hour for work tomorrow (in Australia) how annoying...

[Degen]

Looks like the bear raid is finally over. Why they would wait this long just to sell is beyond me

ride or die! Let's go. *refresh refresh refresh*

[arbok26]

do u think the announcement will be in the morning?

[FlashFlooder]

do u think the announcement will be in the morning?

I doubt it. The company is based in San Diego, so it's currently 6:30AM there. It could be anytime between market open and late tonight, after hours.

Good luck trying to sleep!

[Divvy]

This is it guys!

So close!

Any clue what time the announcement might be?

[FlashFlooder]

Just remember guys: remove any stop loss orders you may have set. They might try to take it down one last time before the news is announced. The stop losses will not help you anyway, if the news is bad.

[Degen]

I've heard different hours ranging from pre-market to post-market so it's hard to tell what time the decision might be made today

I figure we'll hear about it as an Arena press release: http://invest.arenapharm.com/releases.cfm?p=5.2

from the FDA's list of approved drugs for June: http://www.accessdata.fda.gov/script...lsAll&#totable

...or from Google

[FlashFlooder]

You'll hear it from ARNA PR first. Most likely after hours, unfortunately.

What's actually most likely is that you'll first see the stock shoot through the roof.

[TylerD]

How convenient that so many major announcements are made after hours.

[arbok26]

You'll hear it from ARNA PR first. Most likely after hours, unfortunately. What's actually most likely is that you'll first see the stock shoot through the roof.

thats not fair - are they allowed to do that?

[TylerD]

I made the mistake of holding GMCR (Green Mountain Coffee Roasters) through a cluster fuck of an after hours earnings call and lost 50% on the position a couple of months back. I just sold it because they basically had no idea why their products weren't selling and what to do to rectify the situation. Nice confidence there executive team!

They are down another 6 points since then. With Starbucks developing their own single cup brewing system I think GMCR is trash at this point.

[FlashFlooder]

thats not fair - are they allowed to do that?

I just mean the stock will likely react faster than the news has a chance to be disseminated.
Just a byproduct of the connected world we live in.

[CrankyJay]

PANL up over 5% today. Glad I bought back in at 30...averaging down. lol

[TylerD]

I just mean the stock will likely react faster than the news has a chance to be disseminated. Just a byproduct of the connected world we live in.

This. The individual trader is at a severe disadvantage when there are funds that literally have servers next door to the exchanges and computers are capable of making a huge number of moves way before we even read the news.

[FlashFlooder]

ARNA just halted. News incoming...

[shwimpy]

ARNA got approved!

[CrankyJay]

Oh shit...so who here owns ARNA and how much? Congrats!

[FlashFlooder]

APPROVED!!!!!!!

it's on the front page of CNBC.com

[Degen]

WE IN THEEEEEEEEERE

Good god I was sweating bullets for a second

[Divvy]

ARNA got approved!

Huzzah!

Still don't know whether to sell or hold when it goes up.

I only have 200 shares, most at 11.3

Hopefully it rises past that.

[CrankyJay]

Huzzah! Still don't know whether to sell or hold when it goes up. I only have 200 shares, most at 11.3 Hopefully it rises past that.

Sell 100 shares and hold the other 100 for potential EMA or buyout news?

[FlashFlooder]

I'm DEFINITELY covering my initial investment today, but I'm gonna try to hold as many as possible for the short term. I think a buyout from big pharma is extremely likely.

[Degen]

There it is on Arena's official site now. So awesome

My only regret is that I sold a good portion of shares a few days ago just in case the FDA failed me. 'sall good though

[Shadybiz]

WTR (Aqua America). Great company with decent dividends. They've been one of my main holdings for years now. They're basically in the business of taking over water treatment for municipalities, and it seems to be working out for them.

Yes, also American Water Works (AWK). Those two are pretty much the two BIG water utilities. Both Aqua and American will indeed either take over the treatment, or just outright buy water systems and run them privately.

[CFMOORE!]

i want to kill myself now. had 2k shares of ARNA, bought in at like $1.30, sold at like $3, man, lesson so HORRIBLY learned.

[FlashFlooder]

I'm doing a serious ARNA dance here... I was in for way more than I should've been on this stock.

Now comes the fun part of counting my money...

Anyone wanna take a stab at opening price when it comes off this halt? I'll open the bid at $15 and up from there...

i want to kill myself now. had 2k shares of ARNA, bought in at like $1.30, sold at like $3, man, lesson so HORRIBLY learned.

I feel your pain, but it just as easily could've gone the other way. That's the problem with investing, there's ALWAYS some kind of regret (even when you're winning).

[shwimpy]

I'm DEFINITELY covering my initial investment today, but I'm gonna try to hold as many as possible for the short term. I think a buyout from big pharma is extremely likely.

Exactly what I'm planning on doing.

[CrankyJay]

i want to kill myself now. had 2k shares of ARNA, bought in at like $1.30, sold at like $3, man, lesson so HORRIBLY learned.

=(

Sorry man.

Also the same reason I'm holding onto PANL with an iron fist.

[CFMOORE!]

I'm doing a serious ARNA dance here... I was in for way more than I should've been on this stock. Now comes the fun part of counting my money... Anyone wanna take a stab at opening price when it comes off this halt? I'll open the bid at $15 and up from there... I feel your pain, but it just as easily could've gone the other way. That's the problem with investing, there's ALWAYS some kind of regret (even when you're winning).

=( Sorry man. Also the same reason I'm holding onto PANL with an iron fist.

yeah, it is hard for me to not get all emotionally tangled in when looking at the loss of potential gains despite smaller gains made. I am still new to this but hell, I seriously would be feeling like an uber champ if i rode it out and kept going. Those of you guys in who got in around where I sold, best of luck, gents!

[CrankyJay]

yeah, it is hard for me to not get all emotionally tangled in when looking at the loss of potential gains despite smaller gains made. I am still new to this but hell, I seriously would be feeling like an uber champ if i rode it out and kept going. Those of you guys in who got in around where I sold, best of luck, gents!

How did you know to get into ARNA at $1.30? Just curious.

[CFMOORE!]

How did you know to get into ARNA at $1.30? Just curious.

this is a DUMB thing, but back when i was looking for things to invest in, i'd type a single letter into yahoo finance and take a look at all the stocks that would show up, then I'd do MINOR research and decide from there. Arena seemed cool but I was looking at these all from a swing/day trader perspective. Though the few biotechs that were into things I felt could be good long haul I considered holding (ARNA included) but the short terms gains were too tempting for me. idiot.