Buying a small-cap biotech stock “because it hasn’t moved yet” seems to have become a viable trading strategy.
— PropThink (@PropThinker) March 19, 2015
The above quote was on Twitter today. As sarcastic as the quote is, it does have an element of truth to it. This biotech move continues to stun and surprise everyone, and as prices go to the moon, investors will look for names that haven’t moved. Of course it’s a ridiculous strategy, but that is what can in fact create the bubble that everyone is worried about. The desire to chase performance and the idea that you MUST get the next big winner. Its just greed on steroids. It happens. But I digress.
I made some partial sales on the P&L today: sold 1/4 KITE + $10.00, sold 1/3 BLCM +$2.20 and sold 1/3 QURE +$3.85
These trades are also posted on the P&L tab at the top of my blog as you know. Please check it every evening to stay current if you are following along at home.
I also added a new name, ANAC today.
The market in general didnt do that much today, but it was a nice consolidation day for the bulls which is very healthy.
The standout again was biotech and healthcare.
IBB +2%
XBI +2.75%
XPH +1.06%
Our portfolio companies excelled again today.
JUNO +$8.59 or +16.8%
KITE (finally broke out) +$10.00 or 16%
BLUE +$5,89 or +4.89%
QURE +$2.50 or +9.9%
BLCM +$2.84 or +11.6%
ESPR +$5.45 or +5.15%
SBIO +$.82 or +2.6%
CLDN +$3.94 or +16.9%
Yes, those are ONE DAY moves.
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