March 29th - PPCO

Cramer picked PPCO Penwest Pharmaceuticals Co. The stock closed at $21.10 today and went as high as $22.39 after hours, an increase of just over 6%. The stock has since leveled of to around $21.95. I see this opening above $22 in the premarket, and would consider an early short at around $22.20 if I can short that high. I think this would then easily go back to the $22 level and lower like the after hours movement. I would look for a dip of .30 cents from early premarket highs. I will keep my eye on the news of this one and make sure there aren't any FDA approvals in the morning like DXCM!