To say that I was stunned by today's move would be a terrible understatement. I don't understand what could have moved it. Perhaps some technical trading started when ICOS broke through some moving average, but that's just speculation on my part.
Mr. Meeks suggests the article in Forbes. While I haven't read it yet, I would be surprised if there was anything substantially new in the article. On the Yahoo! board, some posters have continually referred to upcoming announcements, particularly in regard to the initiation of phase III clinical trials. But I don't see why this would account for a 4-point move over two days. I'll take it, in any case.
Back when the Gates hysteria hit, I sold half my holdings around 23 (missed the top of the spike), expecting ICOS to drift back down to 20, and then buy back. It never made it down to my target. Today I sold my other half around 26 1/2, with the expectation again that it may drift lower. My decisions, which are half wrong so far, are not in any way a reflection of my confidence in this company for the long run, but I've seen ICOS make moves like this before. Also, I have some (okay, hefty) capital losses this year, and I'll be able to offset the ICOS gains with those losses. I will be buying back into ICOS, and will hopefully ride it to retirement.
Best regards,
Lel |
