I just sold my largest holding in my portfolio, Master Card (MA), today. I believe that’s the longest I’ve ever held onto a stock. I then immediately used the cash to buy Neurocrin Bioscience (NBIX) after it got hammered yesterday after hours when the public found out Pfizer (PFE) will not be working with them and their new sleeping pill. Talk about market overreaction!! Just because PFE doesn’t want to work with NIBX, it doesn’t mean the product is bad.
Okay, so NBIX is having an unexpected difficult time bringing their product to the market (FDA will review them), but come on! The FDA didn’t reject them. To make sure the market agreed with me, I checked the buy to sell ratio and there is heavy buying- about 3:1.
Anyway, got to get back to the ticker… looks like NBIX is losing momentum at the moment. I’m hoping to stock at least gets to $10.00.
Joined Jul 30, 2008
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