Monday, July 26, 2004

Equity Trading -- Mylan (MYL)

Talk about being really, really, really wrong about a company. Mylan announced today that it will be buying King Pharmaceuticals, and the stock dropped like a rock. I haven't fully researched the deal, but it appears that it will be diluting earnings substantially.

This just goes to show that you should always set your entry and exit points prior to a stock purchase and not deviate from those rules. If I had held on expecting the turn that should have come, I'd be something like 20% down right now. As it is, I only lost 5% trading Mylan.

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5 Comments:

At 8:06 PM, Blogger BobsAdvice said...

Hap,

I also have listed Mylan in my blog. I also have owned and sold MYL after hitting a loss. I try not to look back too much on stocks after they are gone but if they perform well again, I certainly am open to repurchasing them.

Good luck with your blog and thanks for visiting mine!

Bob of Bob's Advice for Stocks

 
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