Just sold JUST sold about 60% of LABD at $52.22, beautiful gain in less than 24 hours....still holding onto other shares I bought around $50 in another account that I will sell at $60+ but for now happy with gains and still holding LABU which now with all the gains I have made swing trading LABU and LABD the last 2 weeks Its like I have brought my cost average down in LABU to probably $16.50 a share from $20!
LABD up $2 since I sold it..... ouch!!! NASDAQ continues to move lower as energy keeps the dow Propped up!
$55+ on LABD, biotech continues to sell off as the dow tries to break new intraday highs. Up nearly 18% I didn't think this was going to happen so soon, I was just a click away from selling all my LABU yesterday above $20 but thought it has more room to run, the more room to run was on the downside, haha....oh well, now Ill have to wait another week or 2 before it comes back up...
https://www.bloomberg.com/news/arti...-junk-bonds-as-price-scandal-engulfs-industry Traders Flee Pharma Junk Bonds as Price Scandal Engulfs Industry Pharmaceutical companies are emerging as the latest pocket of sorrow in the beleaguered junk-bond market as a renewed public debate on drug-pricing tactics unnerves investors. Bonds sold by companies from Valeant Pharmaceuticals International Inc. to Endo International Plc and Concordia Healthcare Corp. have underperformed the broader junk-debt gauge, Bloomberg bond index data show. That comes at an inopportune time for companies like Concordia and Sucampo Pharmaceuticals Inc., which are marketing more than $2 billion of loans to finance acquisitions. Drugmakers are under increased scrutiny over drug-price increases deemed excessive. It started with a decision by Martin Shkreli’s Turing Pharmaceuticals to boost the price of its newly acquired drug Daraprim 50-fold to $750 a pill. Now the focus has expanded, with congressional pressure, input from Democratic presidential candidates and the contagion of negative reports focusing on the pricing practices contributing to out-sized volatility, according to Eric Axon, an analyst at debt-research firm CreditSights Inc. "One of the primary reasons it’s been whacked so hard is because there’s a lot of political headlines," Axon said. "That has pumped some fear into the sector." Democratic presidential front-runner Hillary Clinton has called for reforms in the pharma industry and is proposing a plan to control prescription-drug costs. Vermont Senator Bernie Sanders, another Democratic candidate for president, plans to introduce bills targeting high drug prices. Democrats in Congress are pushing for a review of price increases of drugs.
yup Chris you are one of the few or only trader on ET who is seeing what I am seeing, we need to link up.