Couple of "oops" - AGN, UAL
1. Possibly I was wrong to study AGN a little more before committing funds. Allergan is up 8-9 points (from 58 to 66 roughly)since April 8th-9th when we started talking about it here. Missed the move. Move could continue too now that Botox is approved. However, one article I read said that MD's already have been using the injections for a couple of years, so the FDA approval now primarily means that TV ads are okay. And maybe this just means incremental sales. (No steep earnings boost) Who knows? The women-talking-to-women grapevine possibly already has known about this procedure. (I assume women are more concerned with wrinkles and doing something about it than men - in general, of course). I'll continue to pass on AGN.
2. Closed my VERY losing position in United Airlines (UAL). Deteriorating balance sheet bothers me. (And to some extent, I'm tired of seeing this stock staring back at me every day.)
As well, I'm still holding several other airline stocks from before 9/11. If UAL stock improves further, I will make the presumption that the rest of the major carriers will see their stocks rise too, and I can participate in that move. If UAL stock stays where it is, or drops, I'm already out, and have freed up funds for presumably better investments.
Paul Senior |
