Replies to post #249090 on Biotech Values

[WorstLuck]

PFE

out-of-the-money puts at several strikes on a tactical basis. My thinking is that the market and PFE will bounce some here.

Half right. PFE bounced, the market isn't doing so great.

Given my overall caution on the market and the bulk of the gains already made, it looked right to take profits on the tactical trades.

Nothing moves in a straight line.

If PFE drops back into the 32's I will re-examine the situation. It is possible it has bottomed but I will continue to wait. Should it turn out that I "missed" the bottom it's no big deal - there are lots of other opportunities if I don't like the price once I "see" a bottom.

I may or may not make note of when I do "see a bottom." I don't intend to note any other trades in this stock. Anyone who bought with me below 32 is up a couple bucks and on their own.