Trade: Isis Pharmaceuticals (ISIS)

Stock Ratings: 1 = buy at current stock prices, 2 = buy on a 5-10% dip in stock price, 3 = sell on a 5-10% increase in stock price, 4 = sell at current stock prices to raise cash.  Ratings are based upon 12-18 month outlook on stock direction and not necessarily related to moves I make due to financial positioning.

Yesterday, I added another small position to my Isis Pharmaceuticals position.  I was surprised to see the stock down over 7% and with how it had been performing as of late and was setting up, I felt I had to take the chance.  The position was small, meaning there's still plenty of room to buy more at lower prices, so I felt comfortable with my strategy, despite telling myself I wanted to wait until the stock fell below $48 before its latest surge.  Trading in the heat of the moment - it doesn't always work out so well.

In hindsight of just a few hours, I realized a few things.  First, biotechs were getting crushed and I didn't know why at the time.  Why on earth would I buy when I don't know if the story had changed?  In the end, this was about a tweet Hillary Clinton sent out about creating a plan to fight "price gouging" in the healthcare space.  This sent a "shoot first, ask questions later" panic through the biotechs, but nowhere else in healthcare, for some reason.  My guess is that these stocks are destined to go lower yet and I could've waited for my price, instead of feeling like I had to chase a fleeting moment.  In the end, this probably isn't the end of the world and the biotechs are likely to recover after the panic abades, but this will mean I have a higher cost basis than I could've had. 

In the end, choices were made, actions were taken.  Nothing I can do but move forward.  Hopefully I'm learning from this though so I can become a better investor.