Stem Sells

As I mentioned last Thursday… buy the rumor, sell the news. The stem cell stocks have had a huge short term rally over the last four days (green arrow shows where they were when I mentioned the possibility of an election play) and the higher open today was sold into. There does not appear to be any reason for TRADERS to continue to be involved long until these gains have been digested. I believe the longer term outlook for these stocks is very bullish, but I am happy to have cashed in my shares and will look for new opportunities to get involved after this rally has been absorbed. These stocks will be good ones to trade on the long side over the next couple of years, particularly around key votes for previously vetoed initiatives for federal funding for embryonic stem cell research.


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.


Tickers:

Comments are closed.

In partnership with CNN Money Part of the CNN Network