Thursday, July 07, 2005

Amgen Wakes Up

Amgen (AMGN)showed exceptional strength today. It actually gapped up at the open and just continued rocketing higher throughout the day. This was during the period when the market gapped down on the news of the terrorist attack in London. Amgen closed at $66.93 (up 5.24%), a new 52 week high on very high volume. This is a nice breakout and it's simply going higher. I want add to my Amgen position. I need to find some extra cash!

On the other hand, my Sepracor (SEPR) purchase doesn't look too good at this point. The weekly scripts for Lunesta came out and analyst weren't impressed by the numbers and downgraded the stock. The funny thing is that when analyst start downgrading, that usually signals a bottom for the stock. So I'm going to hang in there a bit longer and see what develops.


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