Sell Celgene (NSDQ: CELG) As it Hits $83 Stop Loss Limit

As much as it pains me, I have to recommend selling Celgene (NSDQ: CELG). The stock continues to drop, despite reporting better than expected sales and earnings last week. The sentiment in the drug group is not great but this stock is acting much worse than the others. There is clearly a large seller liquidating.

I hate to sell at the bottom but feel I must be disciplined. I placed an $83 stop loss on this position about a month ago and now that is has closed below that level for two consecutive days, the loss is triggered. This is a simple rule I follow.

You might consider selling half your position and waiting a bit but for our hypothetical portfolio, I am selling out the entire position.

 

 

Stock Talk

Michael D

Michael D

Hi Linda- good time to buy a fall option for those of us not in it?

Mark M

Mark M

Painful realized loss of -17.1% for me.

Cramer comment on CELG today as well:

Jim Cramer: I Don’t Have a Catalyst for Celgene https://www.thestreet.com/video/jim-cramer-i-dont-have-a-catalyst-for-celgene-or-gilead-14587217?puc=yahoov&cm_ven=YAHOOV&yptr=yahoo

Michael B

Michael B

Linda
Last week Sold a 80 5/18/18 Put CELG for $32.00. Resulting in .4% return. Think if this stock tests $80.00 that would seem to be a good buy. Like this company and like it more at 80 a share.

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