While reviewing the Biotech Stock Mailbag Readers' Portfolio last week, I noted the absence of any short-sale picks in the portfolio. This prompted Evan F. to write:
"You misstate that no one recommended a short sale in the BSMRP portfolio. I, in fact, called to short Vertex at $42.15 and I stand behind it. Just setting the record straight."
True. Evan is right. What I told him in response and repeat now is that I only received two short-sale recommendations for the BSMRP. His Vertex short was one; the other came from a reader recommending a short in Cell Therapeutics (CTIC). Neither short recommendation made the final BSMRP because they didn't garner enough votes. Looking back, the Cell Therapeutics short would have been profitable, better than the long (and underwater) Cell Therapeutics position currently in there.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV