Blog > US Stocks and Markets > 22% gains on Seattle Genetics, Inc. (SGEN)
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22% gains on Seattle Genetics, Inc. (SGEN)

Today's Financial News - Posted August 26, 2009

Laura Cadden just locked in 22.3% gains on Seattle Genetics, Inc. (NASDAQ:SGEN) for members of TFN’s Hot Stock Confidential

by Laura Cadden

Baltimore, MD — TFN: On June 6, I recommended our Hot Stock Confidential members  buy Seattle Genetics, Inc. (NASDAQ:SGEN) for 20% gains within 6 months.

Today, the shares jumped on news that the company completed enrollment 6 months ahead of schedule for its latest SGN-35 clinical trial for the treatment of relapsed or refractory Hodgkin lymphoma.

If you bought under $10.05 as suggested, you’re up around 23% right now.

This morning, I recommended that our HSC members establish a “wealth-preservation” stop loss. I figured the price will most likely drop back down as the news ages and interest lags: “Let’s prepare to cash out… but not quite close the door just yet. I recommend you set a stop-loss for SGEN at $12.25. If it triggers, we can always get back in at a later date.”

Seems like in these volatile days, I can never set a wide enough stop loss that allows us to just forget about the downside and enjoy an unlimited upward surge. So of course, my stop loss was triggered a little later.

Seattle Genetics, Inc. (NASDAQ:SGEN) hit our wealth-preservation stop-loss for 22.3% gains in 59 days.

It was double-digit gainer #48 for our Hot Stock Confidential members so far this year.


Next Article: Kewaunee Scientific: A Small-Cap Blue Chip

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Posted by Laura Cadden · Filed Under US Stocks and Markets 

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