LCI trade for 3/30 – 5/10/2016

Posted By JM on May 10, 2016 | 0 comments

We've been trying to bottom pick the falling biotech sector over the past few months. The generic drug maker Lannett ($LCI stock) was one of our long swing ideas on the basis of it being fundamentally oversold and punished because of association with the generics drug biotech sector and a recent acquisition that failed horribly initially.

Even though we made money on the trade, it was not an easy swing as we had many $20-40k swings up and down in the stock whipsawing our P&L. We sold into rips and added more on drops over and over like a yo-yo. We finally were tired of it today and just dumped it all.

Net Profit: $15,672


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