Bookkeeping: Closing Myriad Genetics (MYGN) as Earnings Fail to Provide a Charge

By Trader Mark
05 November 2009 @ 10:45 am EDT

We restarted a position in Myriad Genetics (MYGN) as a long term "growth at good value" play about 6 weeks ago, despite a horrid technical condition on the chart.  Since then the stock has just sort of hung around and done nothing, trading in a very tight range.  I was hoping this quarter's earnings report would provide some "oomph" but it appears we have nothing.  No need to wait around at this point as the chart looks no better than it did 6 weeks ago and now our catalyst to change that condition has come and gone. At this moment, the stock is simply in a slow downturn and is a better catch for the bears than for bulls.

Copyright The Fund My Mutual Fund. All rights reserved.

E-Newsletters

We value your privacy. Your email address will not be shared.