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Biotech / Medical : Oscient Pharmaceuticals Corp. (OSCI)
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To: Hockeyfan who wrote (647)3/9/2000 12:11:00 PM
From: OldAIMGuy  Read Replies (1) of 1154
 
Hi H, I agree, any time we see such rapid price appreciation across a sector, it has essentially nothing to do with improvement in the underlying fundamentals of the issues. This is the reason that I adhere to my own strict risk management policies which mandate keeping the risk contained in some fashion. Monday, March 6th may go down as my "high water mark" for the year if enough fat gets trimmed from some of my overweight biotechs.

I've been selling in small increments all along the way with GENE and others in this sector of my portfolio. You can see what it looks like at:
execpc.com
It takes a minute for the graphs to load, so please have patience.

Right now I have the Buy Resistance for GENE set very high which will only let me repurchase shares should the price/share fall to something less than $24. By coincidence that is about what the 26 Week Exponential Moving Average is for the stock.

There's a pile of momentum players in all of these stocks right now. Should the tide turn against them, they'll head for the exits all at once. No use buying the first shares they will be selling when we can hesitate and buy a basket full later, cheaper.

I noted that of the Officers and Directors for GENE, as of last October, I owned more shares than all but three of the nine named. However, since I've been selling quite a bit since then, this is no longer true.

A significant part of making money in the market place is learning to keep it once made. You've identified a solid reason for managing risk.

Best regards, Tom
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