Sold IBB @ $82.94

July 16, 2008 – 3:27 pm

Took a small profit in [[IBB]], $82.94.

On a relative strength basis, the biotechs aren’t participating in this rally today. I take that as a bad sign. I bought IBB this morning thinking that it would rally considerably. I was wrong.

Since my original thesis is not happening, I’m also out of:

[[CGRB]] @ $28.30…$28.94 basis

[[EXAC]] @ $30.90…$30.36 basis

[[GENZ]] @ $78.93….$76.73 basis

[[OSIR]] @ 14.95….$14.94 basis

[[NUVA]] @ $46.68….$47.86 basis

These are positions I took last week on 07/08.

I hate biotechs.

This entry was posted on Wednesday, July 16th, 2008 at 3:27 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

4 Responses to “Sold IBB @ $82.94”

anjing bau Says:

cool that’s what i saw and took my dna trade off
July 16th, 2008 at 3:33 pm
alphadawgg Says:

No sense in riding a mule. Trying to stay on top of the faster horses.
July 16th, 2008 at 3:40 pm
anjing bau Says:

a dawg riding horses now that’s someting I would pay to see.
July 16th, 2008 at 3:42 pm
anjing bau Says:

DIA a close above 111.90 and it will be the fist close ABOVE the 9 ema ( daily )since the June 2nd fakeout day…
July 16th, 2008 at 3:45 pm