Monday, October 15, 2007

Collective2: FOLD, ALLI, and CKSW out

A busy day for the Collective2 portfolio. One play which I forgot to publish last week was the brief 1-day fling for Genomic Health (GHDX). The 500 share lot closed for a -$495 (-4.8%) loss which was a frustrating loss as I looked to increase equity exposure. The three hits for today produced mixed results:

Allion Healthcare (ALLI) did not release any news but the stock jumped 5% on heavier volume in the absence of news. Unfortunately, the stop was hit on the initial break of support. The 1,400 share play closed for a +$252 (+2.8%) profit - but today's exit was a fakeout.

The second stock, ClickSoftware Technologies (CKSW) is set to release earnings on October 31st. But a second day of gains saw the stock tag resistance (and therefore hit its target), for a +27% gain, or a +$2,780 gain on a 2,000 share lot.

Finally, there was a loss for Amicus Therapeutics (FOLD). Although there was no news released on the day, the stock fell back to undercut what looked to be reasonable support. The stock was a morning buy but an afternoon sell. The 500 share position closed for a -$305 (-3.4%) loss.

Five positions remain in the portfolio.