There was a nasty downward gap from 5.5 and a failed spike at 6.0 in the past year. The after-hours/pre-market crowd had pumped this up to a peak of 5.75, so it was already near resistance. Also, the news was only that they were planning to resubmit a previously failed application to the FDA. I had also found mention of a previous patent lawsuit that would come back into play if they ever did get approved. It began the day breaking down pretty hard and I got in at 9:31.