Gambler's Biotech thread - Page 144

Thanks for doing the math. I guess on average they are up more than 200% (208% to be exact )

The more I trade, the more I am convinced that being a contrarian is the way to trade the bios. The tough part, of course, is the timing. I'm getting better at judging sentiment as well as telling the difference between a stock that is beaten down for good reasons, and a stock that is beaten down irrationally.

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I think there can be an argument made for long term bio investing, but the biggest problem is that it is not easily apparent what bios are truly undervalued, and what is crap. I think, however, if someone has a solid bio background, then they can do enough DD have a good chance at figuring out the difference.

I've been absent for a while (at least posting-wise) because I have started to realize that I am a better intermediate-term trader than I am straight-up daytrader.

In addition to coming to this realization, I also realized that daytrading was taking up way too much of my time. I think there can come a point where it goes past being a hobby, to something of an all-consuming black-hole.

I think that once you throw enough time at something, then the law of diminishing returns starts kicking in. The first 1000 hours you learn about trading you learn a ton. Less so from hour #5000 to #6000. Even less from hour #9000 to #10000. I don't claim to have learned everything about trading biotech stocks, but I feel comfortable with the practical trading experience I have, and I would rather go out and spend some of the money I made rather than sit inside staring at a screen.

This was one of the toughest things I had to overcome as a trader... essentially, it is having trust in your trades and being comfortable letting them play out on their own.

Anyway, enough rambling.
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Reloaded starter position of 40K shares of AFFY at 7.06 from my sell at 7.93 average... more of a longer-term swing trade (2-3 weeks), but we will see.

May sell at any time... maybe even monday at 9:30 am...





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Hehe, is monday some kind of holiday? I guess I'd have a hard time closing out a position then

Well, we'll see what happens with AFFY... on the one hand I believe it is probably the most undervalued biotech stock trading over 5$ (on a one year timeframe, like NBIX, CHTP, and SQNM were) but on the other hand, I think the markets are overbought and it has run up significantly from 5$. Probably why I am holding back a bit... would double down in the high 6$ range.

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Is there a law saying that I can't sell without warning everyone 1 hour in advance?

I said I could sell at any time and I still feel that AFFY is the most undervalued bio stock trading over 5$, but that is for longer term investors... however, if the stock runs up from 6.50 to 7.14 in a day and I feel that is too much, then I am going to sell.

Deal with it.
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