I think we are awhile from a markettop
in biotech, but I will continue to lock
in some gains. Paring things back somewhat,
am a third cash now. Sitting overweight in
neuros--glia, cnsi.
What a week this has been--basically took
a little more off each of my positions, but
stopped buying glia--I cant do it on my own,
we are going to need some institutional
interest to get the thing moving, and if
that short position is the reason for pause,
then the institutions are the problem. Or
is it hedge fund managers who are whacky
enuf to be short some of these biotechs?
Well, fwiw--DAK, I think GZMO is going to
be a lot higher five years from now, I'm
going to hold a nice position, but nothing
too huge--"a responsible amount". Same for
Tgen and the others. I think in this hysterically
enthusiastic market, smart to be in at least some
cash now--big mood swings and all that.
Gave up my MAGN yesterday, and you bet, up another
buck right away. Could have done worse. Now lets
see where my picks are in a couple years, that will
be the real test. |
