Wednesday, December 14, 2005

Slaughtered by ABGX

AMGN is buying ABGX for 22.5/share and I am SHORT ABGX @14.39. The stock is halted so my stop-loss can't be activated. ABGX will probably open around 22$ tomorrow, ~50% cut for my position. The only good thing here is that only ~10% of my money is allocated to ABGX. On a day like today, I can't stress the importance of not putting all the eggs in one busket.

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