Cashing in Dot HIll,Cantel Medical, Buying Biotechs

Cashing in Dot HIll,Cantel Medical, Buying Biotechs

I did not foresee the China mini-crisis. But I watched with fascination. Because I had little cash in my account, on August 12 I raised cash by selling my Cantel Medical (CMN) stock, all of it. Cantel is a great company making infection control devices. When I bought it in December of 2009 for $19.58 per share, after hearing about it at Seeking Alpha, it seemed undervalued to me. Since then it split 3 for 2 twice, and when I sold it I got $54.02 per share. No complaints there, it is just a valuation call.

Before I could reinvest that money, Seagate (STX) announced it would buy Dot Hill (HILL). Rather than wait for the transaction to close I sold my HILL at $9.685 per share on August 19. I first bought HILL in 2004 for $7.18 per share. That sounds less than brilliant, but I became a specialist in HILL, mostly selling high and buying low. It has been a very volatile stock. Most of the stock I sold in the end had been bought at $1.00 to $1.40 per share, though I had bought more at $5.67 as late as July 7.

I generally am a careful buyer, doing my homework before buying. But what a sale we have had! An opportunity to buy stocks I wanted, or wanted more of, at better prices.

So this is what I bought:

Star Bulk (SBLK) at $2.39. This is not a biotech.

Epizyme (EPZM) at $15.60.

Gilead (GILD) at $109.18

Amgen (AMGN) at $151.45

GlycoMimetics (GLYC) at $6.84

Inovio (INO) at $6.71

You can read what I think about each of these stocks by checking out William Meyers at Seeking Alpha.

An even higher level of detail is available at my site,

Unfortunately I missed the super Door Busters sale of the opening minutes of Monday the 24th. It is a sort of vacation like week for me and I thought the market would open low and then drift lower during the day. Oh well. I still have quite a bit of the HILL cash and will try to invest it carefully in biotechs, but before they start shooting up too high again.

Keep diversified!


Cashing in Dot HIll,Cantel Medical, Buying Biotechs

See which stocks are being affected by Social Media

Share this post