I'm going to reduce my position bit by bit as the stock climbs. Honestly, I still own far too many shares than I should and I took a great risk last Fall when I added for the third time in a big way and just held. I was just going to trade a large position prior to the expected approval and made the switch to hold. The decision has resulted in my investment account being at the highest level ever but with very high risk. I am now raising some cash and will continue to do so. I will hold 3000, maybe 4000 shares through to the end (buyout???) but want to sell the remainder to reallocate.
Sold another 2000 at $53.965. I'll hold my remaining 4000 shares and will not look to buy any back.
I'm planning to fly down to Naples FL to buy a home. I can't believe the prices. You can't build a home for what the banks are asking. Thousands are in foreclosure and the banks just want to unload inventory.
Congrats guys. I think they will push this back into the forties one last time since they now know the pdufa date. The fear of waking up to approval any day is now over so they can start up the games again for another month.
I sold another 2k shares @ $55.95 after yesterdays 3k share sale, I'm down to my original 8k from November. I feel great about raising some cash and will sell more as we continue to rise into FDA approval.
It almost feels anti-climatic!!! Our battle against the manipulation and dense analysts is almost over.
Kutz.....congrats to you too!!!
I was long 8000 from November 2008 and added 5000 on margin in March. It represented about 115% of my overall portfolio at the time, because of the margin. Scary and maybe foolish, I know. I thought the stock would run up into an FDA decision regardless of the decision and I could lighten up into the news. Now, I am certain the FDA will approve and I am pretty sure, someone will want to acquire the technology platform. But, those are my opinions and so I will reduce my exposure now. I actually sold 3000 at about $55.50.
I will sell another 5000 shares as we work higher. You made a very good point in an earlier post. As the price rises the risk/reward ratio changes and not in our favor.
We have all done a very good job of ignoring the option manipulation, overall market fears and human nature in holding our positions. Our reward is profits and a very handsome number so far.
Good luck to all going forward. Do I hear $80 buyout?