Quant is an educated trader and I suspect fairly successful. Since we are talking trading not dividend investing than hedging is fundamental to trading. That being said, I noticed a certain vitriol in his posts that are out of character.
Easy my friend. I bought my last batch at @14 and was waiting for the channel break. It seems to be ready to break the new channel. Anyway we all know that this is a long term winner (The fabulous Baker Boys will take SGEN along for a ride as well).
May want to watch BIOD. I haven't taken a position yet as my buy limit is under 3.I've been accumulating ARNA.
That was not my point. I bought at $10 approx, before the crisis, sold at $8, bought at $6 all the way down to $2. Then when we were in the high 14's, bought a lot of puts @ $10 and $12.50. Sold at $13, bought back in the low $10's, cashed in my $12.50 puts (I had 2.5 times puts to my equity longs). Lost on $10 June puts and $7.5 puts, and still have more puts than equity to cover my longs.
Between my various accounts, my straight longs and my 2011 and 2012 calls, I am very long ( I don't like to reveal total position $ on public fora), but we are not taking 5 figures positions here, as many know and I have indicated before.
The point is, I am straight up, don't try to scare people, don't like to talk based on my book, and have always told people when we got in the mid teens to buy puts. I will continue to buy puts when we go into the $17's and will do so again if we get near $20. I always buy puts several months out and accumulate protection all the time. I also hold large positions in SDS (SPY double shorts index) always to cover me. So, I always protect my back side on my equity and also the index for any macro or political risk that could disrupt markets in a big way.
So, having said this I would caution everyone to be very careful of paid hedge fund shorts on this board. They pretend to be your friend. That is a set-up and is a con!
Unless something fundamental alters the rationale for owning INCY do not get shaken out by the paid posters.
The last 5 days in my opinion, looking at the second my second streaming quotes and block trades (few) indicate a fight in the $12.40 range (50 day SMA), that was only temporarily lost by the hedgie shorts (who I am sure will zoom this extra long if good trial results come out), but also be prepared with puts for any ride on the downside, if something unexpected should happen. This is a very high beta stock and one can make money around here and the high teens, no matter if the results are positive or negative. Just position accordingly.
i guess you have nothing to say, i report how this stock trades technically and i guess it bothers you...i have made more money in the stock market than you ever will and i have more shares in incyte than most individuals including insiders.
i do not attack anyone on this board so you should do the same and if you dislike me put me on ignore...or do you not know how