JAZZ - upbeat trend marks FDA panel countdown

JAZZ traded up a whopping 11.11% today amid dreadful market condition, following the announcement of a stronger-than-expected balance sheet for the quarter ending June 10, 2010.  The company is expected to hear from a panel of medical experts on next FRI Aug 20 concerning its product candidate, JZP-6.  Meeting notes are usually made public 2 days before the gathering.  These documents will usually set the tone of the discussion and will likely influence the stock price immediately even before the panel meeting takes place.  As it is always risky to hold a position through a FDA event-based catalyst, the best exit point for JAZZ will be between FRI Aug 13 to TUE Aug 17, ~48 hours before the FDA panel.  Current price target:  $11.20 - $11.70.