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ljpc

ljpc [la jolla pharmaceutical] info: rtq:1.08 50% institutionally held. 52 week high: $4.50 chart: http://stockcharts.com/gallery?LJPC [has been consolidating nicely on heavy volume between 1.07-1.14 , the float has been turned over. Over 3mm shares short Float:60mm out with half held institutionally no insider sells for the past 3 months Last news headline reads:"La Jolla Says FDA Indicates Riquent Is Approvable >LJPC " No resistance until 1.72. Do your dd, but i see a nice hard bounce coming off of this area of 1.08-1.14 back upto 1.70.

i guess the fda made them go back with their big lupus drug, but in europe it ccould still go through, they have enough cash for 4 quarters but may be seeking a partner imho, but this is mostly a t/a play for myself as the stock has been riding the 100 day for awhile and the float looks to be turned over at higher prices then currently trading, will trade out on a breakout to 1.70 area near term depending on the # of shorts and news.

today at 2.00 from buying at 1.10-1.17 area.....

Nice volume yesterday. This stock is something to definitely watch. The firm is in San Diego, and since I'm doing quite a bit of work down there, I think I'll pay them a visit.

is negative divergance and a run from 1.08 to over 2 is good profit taking territory.....watching it though.