The past 30 days has been fantastic for Gilead Sciences stock. Last month I purchased 50 shares of Gilead because the stock had been beaten down by two primary factors; an overall market dip, and the Democratic Party agenda. Things seem to have cooled down on the politics side which has help Gilead stock rise from my purchase price of $96.93 to today’s price of $109.75. This is 13.2% stock appreciation in less than a month. Today I sold 40 shares of Gilead Sciences (GILD) at $109.75, totaling $4,390.08. My net profit from this transaction is $356.38.
Why Sell Gilead Sciences
Why sell? I am a huge fan of Biotech and Gilead in particular. I owned 100 shares of Gilead prior to making my latest purchase of 50 shares. When I made the purchase I mentioned in my post that my portfolio became too heavy with Biotech stocks. I planned on either selling the stock on the rebound or buying more stock to offset the lopsidedness of my portfolio. I chose to sell because I don’t want to buy just yet. I believe there will be good deals in the near future because interest rate hike rumors are once again floating around. I’ll look to buy more stocks in late November, early December if the market dips. Stocks on my radar are EMR, KMI, VTR, DOV, IBM, TD, and BNS.
For the record I am very long GILD. I sold to level my portfolio. Today I own 110 shares at a cost basis of $98.46 per share, at the current market value of $12,154. GILD a great stock to use for covered calls. I do and intend to continue selling calls on GILD to reduce my cost basis.
What stocks are on your radar? Are you investing now or waiting on interest rates? Do you own GILD?