Sequenom (SQNM) has now completely filled its gap created on the positive Downs Syndrome data results from 2 weeks ago; down from $29 to $21. Gap was at $21.
I'm taking that opportunity to add to the position and taking it from a 1.1% stake to 4.9%
VXO which is a fear guage, that has been around longer than VIX, at its worst in the 2000-2002 correction hit upper 50s; it is now mid 60s. In 1998 it had one day in the low 60s as we worked through the Long Term Capital blowup/Asian currency crisis. Truly historic.
Long Sequenom in fund and personal account
Monday, October 6, 2008
Bookkeeping: Adding to Sequenom (SQNM)
Posted by
TraderMark
at
11:04 AM
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7 comments:
Where did you buy SQNM? I added at 21 with a trade trigger I never thought would fill. I think we will be happy when the dust settles.
I had an order right at the gap
in the old days you could make some nice money buying a stock nearly 30% down in 2 sessions
nowadays it means tomorrow could be another 30% down
SQNM... I am looking to get in as well. Great Co.
On the markets briefly...
We are not Precisely 31.8% (a key Fibonacci number) from the closing peaks on the SP and the Naz.
Commercial real estate is still juicy and I am looking to short on market bounces.
APWR is cheap... for someone willing to hold onto this name for a very long time this is what is called opportunity... that is if people have the stomach for it.
More tonight if I have some time...
Great call on all that Cash Mark. That is probably the number one way to win as you can buy stocks like APWR at these prices and believe me there will be many other deals that no one could have imaned possible before we are through.
we are now precisely ... typo
I only have 2 stocks (SQNM, GXDX) and one mutual fund in IRA. I have over 80% in cash. I sold most a long time ago (June and earlier)and most of my old holdings have dropped over 50%. With this conservative approach I am down 12% from my highs. But I am still in my basement with my head between my legs crying.
Yes it is quite amazing
as I listed last night many stocks of global growth peaked in June/July and many are now down 60-80% in 3 months
I've sat in 20-30% cash, sometimes 40% yet the long positions are so destroyed that I cannot keep ahead of the market. Even with some index shorts to help.
The only "solace"I take is I track a group of 10-15 mutual funds of similar ilk and some of them were down last Monday 11-14% and some days they are just being destroyed - I've had one day down 5.7% but most days its just a slow erosion, 2% here, 3% there.
This is the year that the indexes will beat the managed funds, that's for sure.
It is just amazing how quickly it unraveled. July 1st despite a bear market I felt very much like I could find places to hide. Now, there are none not named cash.
pls dont blaim 'deregulation'
its not the american way to regulate or exepct regulations so effective as that high level professionalsin complex enterprises could not screw then up , circumvent them or use them to their unfair advantage.
the answer is
accountability no regulation. also gov should not allow monopoly styled entities that become 'too big to fail'' tha is also very traditional and much overlooked these days
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