I find myself unsure what to do at this point. (Aside from taking some profit out) should I close out the position, and if so put the money into what?
I bought some $APT (US-based mask manufacturer) in mid-January.
Sold off most of it this week as it 8x’d. I put most of the earnings into other coronavirus-relevant names: $AIM, $INO, $COCP, $MRNA, $TRIB. Also considering $GILD but haven’t bought any yet ($MRNA and $GILD aren’t really corona pure-plays because they’re large-ish biotech companies with multiple product lines).
I’ll revisit these allocations when the market opens on Monday. I don’t have a good sense of how smart this is… there’s a lot of hype in this sector and I haven’t carefully diligenced any of these picks, they’re just names that seem to be doing something real and haven’t had a crazy run-up yet.
I also pulled back a lot of my portfolio into cash.
I bought some $APT (US-based mask manufacturer) in mid-January.
Sold off most of it this week as it 8x’d. I put most of the earnings into other coronavirus-relevant names: $AIM, $INO, $COCP, $MRNA, $TRIB. Also considering $GILD but haven’t bought any yet ($MRNA and $GILD aren’t really corona pure-plays because they’re large-ish biotech companies with multiple product lines).
I’ll revisit these allocations when the market opens on Monday. I don’t have a good sense of how smart this is… there’s a lot of hype in this sector and I haven’t carefully diligenced any of these picks, they’re just names that seem to be doing something real and haven’t had a crazy run-up yet.
I also pulled back a lot of my portfolio into cash.