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Strategies & Market Trends : biotech day trade strategies
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To: Allan Harris who wrote (4)10/17/1996 5:02:00 PM
From: scaram(o)uche   of 20
 
Allan suggests not buying "stories" and buying at the money BTK calls, about 2 months out. Sure, I think it's a great strategy.

Being a scientist, I can differentiate many of the good stories from the crud. Thus, I enjoy the safety of owning issues that will eventually bounce back in the event of a negative surprise, or of holding trash short long-term in the event that momentum leaves discrimination behind. I like this warm and fuzzy feeling of knowing that my short-term strategy can turn into a sound long-term hold in the event of a surprise.

But, I consider diversification of strategy to be even more important than diversification of my portfolio. Therefore, I'm all ears.

I would suggest, however, that the sector can be divided into issues that move very differently over the course of any rally/retrenchment, and that BTK will dilute your capacity to maximize returns. What we need are indices that are divided......... BTK-mature (AMGN, et al.), BTG-up-n-coming (AGPH et al.) and BTG-pure crud. ;-)

Rick
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