I got shaken out in the low 30's... just didn't have any more patience for a rebound and was fearful that larger market turmoil could make ISIS plummet. Banging my head against a wall now... but wanted to say congrats to those of you who stuck it out. I'm a little skeptical on how much higher ISIS can go given the sector is still quite questionable no matter how huge pipelines might be. I like ISIS and think it is going to be a big hit (that's why I originally went long and had to average myself on the big decline). Will keep watching with interest, no matter how painful it is to think my losses would have been profits by this point. Oh well... win some, lose some. Isn't that the game we play?
Why do you say the the sector is questionable no matter how huge the pipeline is? Biotech is hot, buyouts are common, all trials keep moving forward with associated milestone payments, there's nothing to just justify being skeptical. The buyout rumors might be a bust and it'll drop again, but then you should just buy back in at the dip, because long-term there is nothing to stop a company like this from making you lots of money.
Where the sector is heading is still questionable. If the market tanks big, this sector is going to be one of the hardest hit, IMO. It was red hot for all of last year, and this year starting in Feb-Mar it floundered... big. A lot of this sector is made up of companies, like ISIS, with negative cash flow. The market will inevitably get to a point where people stop speculating and move to stocks with solid fundamentals today... not somewhere down the road. The future is always questionable, but I think that's even more amplified in this sector. Its is just my opinion.