Goog Adsense

Tuesday, April 11, 2006

Sold off my remaining shares of TWTC at low 16s and closed the position on MHGC. The market seems to want to sell off since we were in a trading range of fresh highs for the broader markets. We're approaching earning seasons and already its not looking good. http://biz.yahoo.com/ap/060411/aftermarket_mover.html?.v=1 Genentech (NYSE: DNA) reported today after the bell and it was down after hours. Whats amazing is that they beat estimates and guided higher for 2006, but apparently that was not good enough for the so-called 'whisper number' that Wall Street looks for. If you ask me, this is just a bunch of bulls#!T, because the institutions are just looking for a means to 1) get in cheaper 2) loosen up some shares, since the general public probably a large % of interest currently on the buy side. Looks like biotech might have a sell-off, but its a great opportunity to pick up some shares cheap and flip later this year.

No comments: