ALKS (Alkermes) – Cutting a Loss too Soon

Conservative trading sometimes results in missed opportunities, such as the ALKS short seen below.

ALKS (Alkermes) dropped nearly 15 points yesterday (4/2/18) after their most recent drug submission was refused by the FDA. I shorted this at the open looking for a further pullback, but a 3x bottom support and small short squeeze spooked me early. Had I held through, I would have gained nearly $5/share, but playing it safe results in occasional missed opportunities.

Leave a Reply

Your email address will not be published.