New position- CORT

I added CORT to the portfolio yesterday at $3.35. 25% position. Have taken on some margin to open this. Starting the position based on the upcoming PDUFA on February 17th. Bit close, but it looks like it might start a bit of a move ahead of that date. It is running into some resistance in the mid $3.50’s based on recent highs put in in November, December and late January. It is also facing the 200 day MA at $3.54, which might also put up some obstruction.

Stop is at $3.10 and target is $4.25.


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