CPXX has gapped up March 14th from 1.75 to 6.47 it then ran all the way to 8.95. It held its trend without any really hard pull back. That Changed today right at the open CPXX dropped 50 plus cents from $15.58 to $15. After touching the whole dollar mark it went up to $17.40 before it started to pull back. I didn’t really think anything about the stock pulling back some, stocks do that its part of the process. But at 10:45 news came out about one of their drugs getting testing suspended. CPXX, as I like to say “It fell off a cliff” going from $16.20 all the way to low $13’s. During its fall it was halted twice. The 1st halt was on the down move, I wanted to jump in this on the short side right below the $15 crack. But I wasn’t fast enough and that was a good thing on my part. After the stock reopened it ran all the way to $15.56 in a couple minutes. That’s when the 2nd halt came in, once I saw that I knew this stock was too dangerous, back to back halts. I let the guys that I trade with in a chat room that.
11. Getting caught on the wrong side of that can blow up an account
22. When it opens it will slam back down. But again I’m not touching it
Sure enough this opened back up and fell back down to the low $14’s Sometimes you have to sit on your hands and not trade. Today I learned a great lesson, Now that CPXX may have it’s first real hard crack it will have a lot of eyes on for the next couple days
5 minute Chart
Daily Chart
