ALERT - Mela Sciences (MELA) bounced back more than 100% post FDA advisory panel

Mela Sciences (MELA), developer of handheld skin cancer detector, received marginal support from FDA's advisory panel yesterday, boosting its share price back up over 100%.  As mentioned in my previous post, anything is possible; the biotech may in fact receive 'non-negative' recommendations from the panel.  The vote came out 8-7.  Eight out of 15 medical specialists on FDA's advisory committee voted FOR the passing of MELA's device.

MELA's shares more than doubled in pre-market trading.  This may be a good opportunity to SHORT the stock as this overreaction is expected to wean in the next few weeks.