Monday, February 14, 2011

More Genzyme

I had to regroup today after the EMS (Ticker: EMS) take under, which totally blindsided me. Anyways, you have to move on to your next trade. I’ve decided to really backup the truck in Genzyme (Ticker: GENZ). We’re very close to a decision and I believe the probability is very high that we’ll have a deal by the end of the week. I already have a decent position in Genzyme so I bought more today. I usually don’t like to average down, but I just thought today’s prices were just too compelling to pass up. Here are my trades in Genzyme today:

Bought 1X @ $72.30
Bought 0.4X @ $72.06
Bought 0.8X @ $71.99
Bought 0.7X @ $71.80

The 13F reports are coming out and many of the big hedge funds have loaded up on more Genzyme.


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