Who am I to ridicule the monkeys?
So after making a snide comment about the monkeys’ expertise in picking stocks at the wrong time, let’s take a look at how some of my stocks have performed the past couple of months.
ONCY: all over the map. I’ve been up 150%, I’ve been down 50%. Currently running around a 100% gain. This month however has been a steady slide down of about 16%.
NFLD: blindsided by the Wall Street Journal and a congressman related to 8 year old data in a different trial, the stock dropped around 25% earlier this year. I’m only down 8%, but the upside for this is incredible. Almost finished with a pivotal Phase III trial despite the best efforts of hedge funds and the press. If this lives up to only half of its potential, it will still be a blockbuster.
CVTX: drifting steadily down since I bought it, but upcoming trial data points should give it a better direction. I still think this could be one of the best medical stocks for the year. Down 10% since purchase.
COR: yikes! Up 100% last month, down 50% this month. Not for the squeamish. I bought some more on the way up last month, so I’m currently down about 15% in the aggregate, but they finally got the letter from the FDA that was promised when the trial was halted. Things don’t look like they should be too bad to rectify or remediate, and if the trial resumes soon then the price should rebound nicely as well. I think this could be another stellar medical stock for this year.
NMTI and VPHM: I tried to catch the proverbial falling knives. I bought these when the market overreacted (in my estimation) to bad news last month. NMTI is hovering around where I bought it, VPHM continued to drop after I bought it, but is back within 5% of my purchase price. We’ll see who was right as more data comes out.
So overall my investments are down 12% for the month—a HUGE drop for me. And I’m making snide comments about the monkeys? Well, if you invest in wildly speculative companies early on in their product development, you have to have a strong stomach for price swings. I don’t think I’ve ever had such a ‘perfect storm’ against this many of my stocks before, however. All I can do is review the data. And since it all still looks good to me for the long-term, ride it out.
ONCY: all over the map. I’ve been up 150%, I’ve been down 50%. Currently running around a 100% gain. This month however has been a steady slide down of about 16%.
NFLD: blindsided by the Wall Street Journal and a congressman related to 8 year old data in a different trial, the stock dropped around 25% earlier this year. I’m only down 8%, but the upside for this is incredible. Almost finished with a pivotal Phase III trial despite the best efforts of hedge funds and the press. If this lives up to only half of its potential, it will still be a blockbuster.
CVTX: drifting steadily down since I bought it, but upcoming trial data points should give it a better direction. I still think this could be one of the best medical stocks for the year. Down 10% since purchase.
COR: yikes! Up 100% last month, down 50% this month. Not for the squeamish. I bought some more on the way up last month, so I’m currently down about 15% in the aggregate, but they finally got the letter from the FDA that was promised when the trial was halted. Things don’t look like they should be too bad to rectify or remediate, and if the trial resumes soon then the price should rebound nicely as well. I think this could be another stellar medical stock for this year.
NMTI and VPHM: I tried to catch the proverbial falling knives. I bought these when the market overreacted (in my estimation) to bad news last month. NMTI is hovering around where I bought it, VPHM continued to drop after I bought it, but is back within 5% of my purchase price. We’ll see who was right as more data comes out.
So overall my investments are down 12% for the month—a HUGE drop for me. And I’m making snide comments about the monkeys? Well, if you invest in wildly speculative companies early on in their product development, you have to have a strong stomach for price swings. I don’t think I’ve ever had such a ‘perfect storm’ against this many of my stocks before, however. All I can do is review the data. And since it all still looks good to me for the long-term, ride it out.
posted by Dwight at
11:15 AM
1 Comments:
I like to buy into the promise of biotechs. "wildy speculative companies early on in their product development" - that pretty much describes the majority of biotechs.
Right now my roth IRA is down about 26% as a result. Oh well, I'm prepared to ride it out too.
By
Phoebe, at 11:11 AM
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