Thursday, September 30, 2010

Bookkeeping: Closing Thoratec (THOR)

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I restarted a position in Thoratec (THOR) on what appeared to be a potential technical breakout not too long ago.  However, the action the past 2 days has been troubling.  Yesterday the stock reversed down hard on a bit of a jump in volume, and this morning in a market on overdrive, it is down another few %.  Searching around all I see is a remark by the CEO talking about 'lumpiness' in the quarter which could be translated to 'miss'.  Maybe.  Either way I don't want to take a chance and will close out with a 5% loss.

In the interim, THOR stressed the lumpy nature of the market, noting implant volume can be impacted by a variety of external factors, including seasonality. As such, quarterly growth is "not linear" and quarter-to-quarter (and even month-to-month) variance will remain high.



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