Wednesday, September 24, 2008

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

TweetThis
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


6 comments:

Solar flyer said...

Thanks for this one. Must admit I took all my profit today (still nervous).

Maybe I'll get back in again later if it drops or on a overall market move up.

Solar Flyer

crappy said...

I know you don't want to give up your secrets since you're trying to start a fund, but what tools or criteria do you use to find these smaller companies? Do you have a team searching for small caps in certain sectors, etc? Just curious.

TraderMark said...

I'm a team of 1
I work about 20 hour days, so that's how I find ideas. Hard work.

I do sleep in on Saturdays though ;)

Bluedog said...

Nice trade, Mark!

Solar flyer said...

OK, when it didn't go down (but up)at the Vix top, I'm back in with half a position - nice one!

Michael said...

"I do sleep in on Saturdays though ;)"

Slacker! ;)

Post a Comment

Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.


Site by codeeo
Original WP Premium theme by WP Remix