Zeev's Turnips Patch-No Politics (ZEEV)

[Justa Werkenstiff]

Z: DNA announced that it got a subpoena yesterday pursuant to civl and criminal investigation bu the US Attorney for Eastern District Of Penn., the same outfit that raked Schering-Plough over the coals. The issue is Rituxan which is a big part of their revenue. Management has not commented on it yet. Very odd timing. This will be a cloud over DNA and the chart says DNA has clouds galore at 55. Opex supports a range between 50 and 55 but I think upside is now limited to $53.50 with the subpoena cloud. I think the risk to DNA is a Chiron or Merck scenario with earnings out tonight. Overall, I think the chart is problematic for bulls.