re: VERT. It fell on concerns over cash burn rate, and the AOL deal. I decided to get out of the way, and sold for a small gain. I will continue to monitor, and I do want to get back in.
re: LDP. The split will be upon us 3/24, and so just as w/ SFE, there may be a bit of a sell-off following that, all depending on where the market is at that time.
re: biotechs. Frankly, while I always knew that biotech stocks are a big gamble, I didn't expect the severity of the sell off we have seen. I got out of most on the day of the Clinton/Blair and managed to rescue some profits, but I also took a big loss on the *one* (LYNX) I didn't get out of (no matter how many times it is said "never fall in love w/ a stock", I did make that mistake w/ LYNX - just loved the fundamentals). Usually I sell very quickly on weakness, but not always :(
Having said that, I think we must be close to stabilizing in the biotech area: most of the recent profits are gone, and many are off by 50% or more.
re: market - I guess there are two schools of thought. One says that this is just a correction on Naz, with a nod to AG today, and the other says this is just the first leg of a more major correction. Which one is it? Well, after tomorrow, option b) will be removed from the equation, so we will have our answer, LOL! Personally, I am not panicking, and again picked up select stocks today, and will tomorrow.
It is days like today that have helped make me a trader some years ago - I believe, fervently, in regularly taking profits. Example: as some of my friends know, I've been riding MSTR for awhile - and in recent PMs, I've announced selling it when it hit $300. When it immediately went to $333, I looked pretty short-sighted. But today it lost 140 points, and sits at $86 - and profit taking looks a lot less silly (as w/ MYGN, when I took profits as it was hitting $200 - then it ran up to $230, but today sits at $120). I can't predict the future, but I know one thing - if I take a profit, the money is MINE.
INTC was amazing considering not just the market, but what the other semis did - f.ex. my TXN, which I've owned for 2 years now, is substantially off its highs, while INTC is breaking them!
Morgan |
