Here’s how I’m trading Amarin ($AMRN) and Evertec ($EVTC) (February 22, 2019)
AMRN EVTC AMRN
Today I want to look at Amarin ( NASDAQ: AMRN ), but first let’s look at Evertec ( NYSE: EVTC ). ). I have talked about this several times so I will just kind of bring up to speed on this real quick. I mentioned that I sold two-thirds of my position before earnings, held the other over earnings. I sold it right down here; closed this last part out for I think basically a break-even, I am pretty sure I bought it right around there.
Then as the stock traded down here to 25.00 and then started moving higher I was looking at the earnings report, looking at the numbers, and felt like, if I am a money manager I am not really going to dump any more of this, certainly with the stock starting to move up. So I moved back in over three different times and now I am long this again, but I am not expecting, it would be nice, but I am not expecting the stock to rocket up here. I am expecting it just to trade sideways for a while. So that is just to wrap up that trade on Evertec ( NYSE: EVTC )
Then Amarin ( NASDAQ: AMRN ) here. The company reports earnings on Wednesday. I wish it didn’t but it still had this pattern. I suspect that this is somebody coming in to buy this stock before earnings. A volatility squeeze, a breakout, massive volume on the upside. You can see it; it is really big volume. It all happened here at 10:00 or so. This is when the buying really, really started and then it just kind of picked up all day long. So there is some real buying interest in this stock.
My trade on this is, I just can’t sanction holding this stock over earnings but I am absolutely going to hang on to it. As long as it keeps moving here I will be holding this stock but plan on selling it before the company reports earnings. For one reason that some of you might know, it is a Biotech company. Don’t ever hold a Biotech company over earnings unless you have inside information. And if that’s the case don’t tell anybody.
That’s my trade here. It is a nice volatility squeeze. If it wasn’t for earnings I would be REALLY eager to get into this a little bit more. It is down, not that much, from the high especially right now, it is down 15 percent, not too shabby. I think if this stock can break through $20.00; I think we could certainly see new highs before the company reports earnings.
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