Bought Celgene – Not a Trade
I felt a need to post about a purchase of Celgene stock that I made yesterday. This is all about the putting you money where your mouth is. I made my case for Celgene in my “Celgene is a bargain“ post.
I am not listing this in my trading log since this is a long term purchase that is outside of my trading account. By long term, I mean “until someone buys Celgene”. I really do feel that the long term prospect of the company will be a buyout. Maybe not soon, but eventually. If they aren’t a candidate, they are still kicking off cash and poised for growth.
Let me point out, once again, the negative still stands as health care reform. That is keeping some of the drug and biotech players down at these levels. It is really a question of how much regulation downside is priced into this stock?
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