Notes from the fishbowl
I received my 2005 bonus today, which has already been spent. The amount always looks less when almost 40% is withheld for taxes, but I’ll gladly take what I can get. I’m still waiting on TurboTax to finish the forms I need to submit my taxes and receive my refunds, which are also already spent.
I’m running into the problem of when to sell a stock. Alexion Pharmaceuticals (ALXN) is up over 75% from where I bought it last month as people are finally starting to ‘get’ the market for their upcoming drug. Wish I had bought much more of this than just 100 shares, but like my bonus I’ll take what’s given to me. I think there is more upside for the stock, but at a much slower pace. I’ll probably sell some to lock in some gains if it reaches $38, but I always have an uncomfortable feeling selling—how much am I going to miss out on?
Here’s hoping my other medical play this year, CV Therapeutics (CVTX) has the same sort of run-up. It’s up over 10% since I bought it last month, but I think it should add a lot more over the year. The other biotech stocks I have held for the last couple of years are much more speculative. Their returns this year are a mixed bag. We’ll see if they get approval for their breakthrough products, which would make a happy Chrees (and millions of patients). As it is now, a press release will cause a temporary run-up, then a slow decline until the next good news. If you don’t like rollercoasters, avoid emerging biotech. One stock in particular I've been up 100% and down 50% at times. If I felt like I could time these swings I could make a fortune on this stock.
Our offices are closed Monday and I was supposed to have a fun day just by myself—I was planning on hiking near the coast, but with rain forecast all weekend that will probably be canceled. Again. This is getting old. I may get to clean out the garage after all. Oh well, I could always be at work, so I’ll enjoy my time off. Have a great weekend all!
I’m running into the problem of when to sell a stock. Alexion Pharmaceuticals (ALXN) is up over 75% from where I bought it last month as people are finally starting to ‘get’ the market for their upcoming drug. Wish I had bought much more of this than just 100 shares, but like my bonus I’ll take what’s given to me. I think there is more upside for the stock, but at a much slower pace. I’ll probably sell some to lock in some gains if it reaches $38, but I always have an uncomfortable feeling selling—how much am I going to miss out on?
Here’s hoping my other medical play this year, CV Therapeutics (CVTX) has the same sort of run-up. It’s up over 10% since I bought it last month, but I think it should add a lot more over the year. The other biotech stocks I have held for the last couple of years are much more speculative. Their returns this year are a mixed bag. We’ll see if they get approval for their breakthrough products, which would make a happy Chrees (and millions of patients). As it is now, a press release will cause a temporary run-up, then a slow decline until the next good news. If you don’t like rollercoasters, avoid emerging biotech. One stock in particular I've been up 100% and down 50% at times. If I felt like I could time these swings I could make a fortune on this stock.
Our offices are closed Monday and I was supposed to have a fun day just by myself—I was planning on hiking near the coast, but with rain forecast all weekend that will probably be canceled. Again. This is getting old. I may get to clean out the garage after all. Oh well, I could always be at work, so I’ll enjoy my time off. Have a great weekend all!
posted by Dwight at
9:44 AM
1 Comments:
If you are worried about missing a run up on a stock, why not just put a STOP on the amount you want to sell, then raise it as the run up proceeds? You might not get the max price, but you won't lose too much and you might make out a lot better.
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Anonymous, at 7:32 PM
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