I thought to myself just yesterday, “Self, it might be time to add another tranche/reshort some more $IBB shares. They are up big since Trump got elected and I still expect at least some big rhetoric about drug/health care pricing.”
But I ended up thinking that I’d better not rush into it. So of course — voila now $IBB‘s down 4% today and I am kicking myself for not having just done the trade yesterday!
@RobertMarcin posted a new Scuttle. “Trump just said that pharma companies will be held to competitive bidding by the federal govt, the largest buyer of drugs in the world. Stocks trading off on the news.”
I still might short some more IBB and/or buy some puts on IBB, but not today while it’s already down 4%. I also might end up nibbling some $PI if it gets back below $30 soon. I’m not in a rush to add to $AMBA just yet, as we all know how wildly volatile that one can be and I’m still just going to be patient with that increasingly relatively small position.
It has been an active week in the Trading With Cody Chat Room with lots of discussion and sharing about new stocks, old stocks and what is happening in the markets. Don’t miss out on today’s live Q&A where I will be there answering your questions. Fire away!!! If you can’t join me for the live Q&A submit your questions to support@tradingwithcody.com and I’ll get them answered for you.