I bought a little more Tuesday. Currently own 30 shares at ~ $160. I think this one may eventually be a takeover target as well.
Nice purchase at $160! The chart pattern is one of consolidation and hopefully the shares will move into significantly higher ground in the short term. You always get the impression with this stock that there is something bubbling under the surface.
I sold 20 of my 30 remaining shares Monday at $193.75 on a big jump, made nearly $700... Will buy more if /when it cools off again.
It looks to me as though things are going on behind the scenes with this one? Could we potentially see a fall back to around $160? That seems to be the support level on the downside?
Surely some of these pharma stocks are starting to look interesting? When markets are under pressure we always see hope value disappear first, even if the story is strong. Keep an eye on the sector
The best time to buy non-profitable pharmas - where there is long term hope value - is when the markets are tumbling. As the risk/reward ratio of investors crumbles this is when we see sell-offs. Then as markets recover, and investors become less risk averse, the shares can recover fairly quickly.
