Thean Y.: MARIA B. on CNBC presented the bad news about CNTO ... didn't mention "Avakine", only that it involved an arthritis drug! She also indicated (predicted is more like it!) that the stock would be much lower in the morning!!!
Ya, the STREET can be brutal! Probably see the stock open 10% lower, and drift slightly lower during the day -- but I'd like to seee the stock not close below 34 3/4, double bottom. If so, then 31 is another bottom.
However, once the nervous hands have been flushed, the stock should recover. Seeing the bounce we had yesterday, the stock may well recover above 36, IMO.
On the positive side, CEO Holveck has yet to announce submission of FDA marketing approval for Avakine. It would be a nice Chistmas present if Mr. Holveck could indeed make this announcement this week.
It would certainly bolster confidence in our management and the fundamentals. Hopefully, CEO Holveck will make his ETA (by 12/31)!
FNS
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