Trade: Isis Pharmaceuticals (ISIS)
Notes:
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.
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.
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.
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