Well my fat loss pill thesis finally paid the bills yesterday! I’ve been yammering about the impending collapse of all of the recent hot fat loss pill peddlers. And while I didn’t expect it to happend in quite such an explosive manner, it happened nevertheless. VVUS’s latest remix of “speed” failed to get approval by some sort of FDA panel and all of the sector was CRUSHED.
Since VVUS was closed for trading I took a shot at ARNA and while risky I felt safe since ARNA was just up in anticipation of news by a competitor, they had no pending news that I knew of. While I was confident ARNA would go down, I had NO idea it would crack over a $1 in 5-10 minutes. One of those drops when you get paralyzed on the buy button wondering, “when the hell is it going to stop going down?!!?” Nice quick profit.
The dilemna is since I could do nothing but watch ARNA, I ended up getting trapped in ID overnight. I shorted ID on a huge spike based on buyout news. Afterwords I realized it was a mistake and had every intention of dumping it before close for a small loss. But again, ARNA had me hypnotized. Down a couple hundred bucks unreallized on ID right now, so nothing to terrible. Maybe I can get a little morning fade and make some money. Highly unlikely though since the buyout news appears to be real. If it goes up or sideways I will dump quickly.
Full list from Yahoo Finance
Pretty much recapped above, but check out that scaaaary chart!! If I didn’t know what to do as a short, the longs were probably puking their guts out!! 🙂 Kind of a bummer the stockcharts.com site doesn’t show afterhours, I’ll post a chart of VVUS later, yikes!!! SHORT
Finally a few shares of this at my broker, since the borrows are out there I will watch it. But getting pretty boring pretty fast. SHORT
Mistake mentioned above, who nows maybe I’ll get lucky. But at this point thats all I can do, is hope for luck, shitty… SHORT
Just another crappy biopharma, but wait I don’t think they make a fat loss pill, why are they up!?! Its not their turn 🙂 Easy borrow at my broker so its worth watching. SHORT
Exact same explanation as KV-A, just a different ticker. SHORT
I missed this yesterday, no real play now since its already down so much. But I’m curious to see if it will end up right back where it started. SHORT