Replies to post #1192 on Chelsea Therapeutics Intl Ltd fka CHIP

[porgyrusty]

I'm in $3.59, but will average down some if I have too. From everything I've been reading, a positive panel seems to have very good chance. Good luck.

[Ripping7]

I agree with you. I too bought in at 3.47. Seems like they always run it down before a big pop taking out stop losses. I don't understand people putting stop losses on biotechs. They always get stopped out. I expect a nice 20+% rebound next week. Might get out before 1/14 though.

[chmcnfunds]

Probably the focus date should be the Jan. 10th when the FDA briefing document should be released.

CHTP

[Psionic Trader]

That's what I'm thinking as well, the drop was too fast too soon and it's forming a bottom here.

Although not very happy with recent action the last few days (I have a significant amount of CHTP march call options which are more volatile), it's never easy to buy at the exact moment after a 15%~20% drop.

I'm thinking the bottom is around here somewhere close to low $3s according to the chart. Looking for a big pop shortly.