Palomar Medical Technologies Inc. (NASDAQ: PMTI) is getting hit very hard after disclosing that Johnson & Johnson (NYSE: JNJ) is dropping its partnership for its home-use light-based devices used to reduce or reshaping body fat including cellulite, reducing skin aging appearance, and the prevention of acne.  Palomar stock at 10:18 AM EST is now down 16% at $12.82 on 579,000 shares versus an average daily volume of only about 150,000 shares.  Its 52-week trading range is $5.83 to $18.94.  This is creating a technical event as well as the 50-day moving average is $14.66 and the 200-day moving average is $11.49. Palomar does have options, but they are thinly traded.
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JON C. OGG
OCTOBER 16, 2009
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