Profound Medical Corp (PROF)

[fmrick]

Well, yes and no.

I am not a day trader. I'm a position trader in small developmental biotech companies.

Basically what I do is find a stock I want to invest in. I then decide what price and how much money I want to invest. I start buying at that point, trying to get to my target number of shares. Sometime I do it in one buy, sometimes it takes many over several days.

Once the position is established I decide on how many of my shares are "core holdings" and how many are "trading shares". I have several per-planned sell plans. I usually set up my trading shares in one of the plans.

So here I had about 1/3rd of my share on the trading side. I set a GTC order in at $20.90 about a month ago. Monday morning, when the news was announced, I noticed that the reaction was muted in PM. So I just left my order as it was. If it had really jumped I would have pulled the GTC order and moved it higher, based on how much jump we were seeing.

By the time the market opened I was busy doing something else. I totally missed the morning spike over $21, but since my order was still there, it executed at $20.90. So my trading shares are gone for now.

If this drops back, say to below $18, I may buy the trading shares back. If not, I'll hold the core stuff until I'm ready to start selling. If I sell, I'll do it slowly now.