CELG Misses

Celgene Corp came in a penny shy of what the analysts expected.  I put a limit in a couple of days ago for the June 55 put for 1.80, but already changed it to $2.50 this morning.  I might even raise that or change my order to the June 50 put.  CELG is down more than $3.00 in pre-market and I expect it to fall some more after open.  I haven’t followed CELG long enough to know how it usually acts after earnings.  Obviously it’s down now, but how long will it be before it recovers?  Does it take a while for the big guys to dump their shares before it finds footing again.

Looking at the chart I drew the other day I can see potential support at 55 using the March high if not a little below that around 52.50+- using it’s trendline from recent lows in September and March.