The Anatomy And Consequence Of Arena's Bear Raid
By Aaron Parker:To an experienced trader, one look at this 1-minute daily chart and you know exactly what happened.
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To those who aren't as experienced, some narrative may be required.Anticipation surrounding the FDA's decision on Arena Pharmaceutical's (ARNA) anti-obesity drug, Lorcaserin, continues to build. With a decision due on or around June 27, an announcement could come at any moment. In fact a decision may have been released by the time this article is published.If approved, Lorcaserin will be the first novel drug to treat obesity in over a decade. While obesity meds have had a troubled past, many people hope the approval of Lorcaserin will spur the genesis of a new, safer FenPhen - a drug which sold 17 million prescriptions in its peak year. So it's no wonder that trading in ARNA stock has been exceptionally volatile. Now consider that at last reporting ARNA hadComplete Story »