Bookkeeping: Cutting 1/3rd Sequenom (SQNM) on Surge

Sequenom (SQNM) is up 25%+ in morning trading, so in this market that steals away gains on a daily basis I am going to lock in a partial gain here. With today's surge the stock is up to 3.1% of the portfolio so we're cutting back 1/3rd down to 2.05% of portfolio and selling in the $25.90s. Now that a gap has been created in the chart we will see if this fills over the coming weeks. If not, we still have 2/3rds of our position to benefit from any further run.

Feels nice to have a big winner again; we took for granted how many we used to have. Some analyst reaction today

• Lazard Capital Markets analyst Sean Lavin said SEQureDx will become the standard test for Downs, replacing amniocentesis and hormone screening because of its greater accuracy. He also thinks the test may be more sensitive than the older methods. Lavin raised his price target to $44 per share from $34. "We believe most risk has been removed from the story and that a significant number of risk-averse investors will now look to buy and hold this gamechanging stock," he said.
• Kevin DeGeeter of Oppenheimer and Co. estimated the Downs testing market at $1 billion to $1.5 billion.

Long Sequenom in fund and personal account