Sorry for the long boring answer, but you asked <g>.
Lost $15k--half what I'd made this year "trading".
I put that trading in quotes, because I am no trader.
A little fun here and there, but I am a terrible 'trader'.
I don't use charts, and I go weeks if not months at a time
not doing anything.
I'd put the kids in 3 month CDs in the spring, I should have
done a mix of 3,6,12 month maturities. Anyway, the money
burned a hole in my pocket when the CDs came due.
I then split the cash between Anadys, Gene Logic, Targeted
Genetics and Curis. ANDS and Tgen blew up badly. In
retrospect those choices look foolish--but it seemed to me
that the longer Anadys took to decide on 775, perhaps the
greater the chance that they would resurrect it. TGEN had
just sold shares, so I didn't see anything wrong with the
price I paid there, bad luck with the death. And Curis
sold some shares too, so that may have made a good low
finally. But who can say. I don't own them now. I said
that I was 'stopped out', but it was probably more like
freaked out <g>.
So, the kid's accounts are just below where they started
the year. Oh well, house money.
In a way though, I came out pretty well. What if I'd
pushed "all-in" on TGEN, that would have really been
sickening.
Actually, TGEN has done well the past two days. Had I not
been burned in July, I might very well have bought some
more recently for a bounce. I'd have bought it for the wrong
reason perhaps--gambling that the TNF-AAV (I think that's
tgAAC94) would be cleared. But the rally the past couple
days can probably be attributed to the HIV vaccine PR.
I'd really liked to have owned some TGEN at $1.50 instead of
$2.80 or whatever it is that I paid. But I'm clear of it now,
once burned twice shy.
Anadys was the same. Had I not bought it in July, I very well
would have bought it after it sank on 775 being scrapped. And
I would be in great shape. I love to buy big dips like that,
and it would have been fun to have positions in my "ACGT
portfolio".
Oh well, Mr. Market wants me the hell out of biotech and
who am I to argue? |
