Fundamental Analysis » Bookkeeping: Cutting some Sequenom (SQNM)

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Bookkeeping: Cutting some Sequenom (SQNM)

Sequenom (SQNM) is jumping 10% today and is up from $14 to $18+ in just a few sessions so I’m going to take this opportunity to cut back hard on the position; we are selling in the $18.10s down from a 1.9% to 0.5% stake. The 50 day moving average is in the lower $19s and if technical analysis means anything in this era, we’ll be an avid buyer above that level if the stock shows strength.Until the market stops acting like a casino we are going to continue to retrench. Just as Wednesday the market lost 3%+ in a 10 minute span late in the day, yesterday we had a 2%+ rally in a span of 10 minutes on the S&P in the last half hour. Something just appears fishy for the market to be moving around this rapidly in 5-10 minute spans, especially late in the day….
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