Trade: Ionis Pharmaceuticals (IONS) and Cedar Fair (FUN)

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 purchased 20 shares of Ionis Pharmaceuticals at $43.47.  This was after the news regarding the FDA's decision to put a clinical hold on the TTR testing with Glaxo-Smith Klein, which Ionis is partnered with.  I found the 6%+ pullback to be an opportunity and the price was starting to climb quickly.  Thinking I needed to get in quick as the stock was likely done going down, I panicked and bought higher than I should've or would've liked.  That said, I was planning to double down when I bought my next position and instead cut it in half in the event the price drops more and I needed to take advantage.  I needed to stay more true to my buy points and got caught up in how much this stock started running.  I felt like I was missing out and as a result, I bought the stock for at lest $2-$3 more than I should've.  The stock is now 10.9% of my total portfolio position as of today's close.

Additionally, I purchased 2 shares of Cedar Fair today at a price of $58.23.  This was an automated purchase as a part of my portfolio's stock reinvestment plan - meaning I can't really control what price things are purchased at.  As of today's close, Cedar Fair is 15.9% of my portfolio.

Nothing on this site should be taken as advice, research, or an invitation to buy or sell any securities.  All views expressed are solely of my own and I am not a professional money manager.  Please consult with your financial adviser before taking any action in your own portfolio.