Wednesday, September 10, 2008

Bookkeeping: Cutting Sequenom (SQNM) by 2/3rds

Apparently too many hedge funds own Sequenom (SQNM) - why else would stocks begin to fall by such amounts in short amounts of time. So hedge funds are forced to liquidate and we begin our waterfall selloffs. I am not taking a chance and cutting SQNM by 2/3rds in the $19s as the chart just turned negative. We are down to a 1% stake from 3%.

If it can go to $19 why not $9? Or $5? Or $1? Depends on how many hedge funds need to sell it I guess. That's all the market is anymore. Just need to find positions that hedge funds don't own and buy those. That's the only "safety".

Long Sequenom in fund; no personal position

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