5 Down Then 3 Up....
posted on
Sep 26, 2019 11:11PM
Ever since finding out about Amarin and their REDUCE-IT trial results for Vascepa I've been pouring over the chart for the period of trading just before and just after their Sept 24/2018 annoucement that they'd achieved 25% RRR in 5 point MACE.
Seeing the general downtrend AMRN experienced in the weeks and months ahead of their annoucement provided some comfort that the trading could not be relied upon as an indicator of success or failure unless viewed from a contrarian perspective of down is good and up is bad perhaps.
The 8 days immediately prior to their Sept 24th news is particularily interesting for me as it seems we're pretty much seeing RVX following the same pattern. For AMRN the first 5 of those 8 days were all down...5 consective down days, followed immediately by 3 consecutive up days.
From up around $3.20 on the 11th of Sept/2018 AMRN went down, down, down, down, down for 5 days in a row, bottoming out around $2.75 on Sept 18th. Then over the next 3 days it was up, up and up again, to a close of $2.99 on Sept 21st. And we all know what happened next.
In Resverlogix's case over the past 6 trading sessions the first 6 were down, and the last 2 have been up. So its not a perfect comparison, but its close. Amarin had 5 straight down days and then 3 straight up days immediately preceding their results. If tomorrow is an up day we'll have had 4 consecutive down days followed by 3 up days.
Sorry if I didn't express this very well....I'm as nervous, excited and anxious as anyone right now. I just hope that ultimately we do at least as well as AMRN did.