ChemoCentryx (CCXI)

[newdmontheblock]

Sadly, I’ve gone bearish on CCXI. From all indications, it sounds like that split vote was enough to tank any hope of a quick rebound. Turns out there may have been some basis to the reaction.

IMO, CRL is probably likely and sadly could sink any hope of a sustainable recovery. If I was to play this (and I’m not planning to) I would probably give it a few days to see if some decent support builds (wouldn’t be surprised to see something *slightly* under $7) after a brief dead cat bounce.

Who knows what the future holds down the road, but I’m staying away from this one for now. Not financial advice nor am I an advisor. GLTY!