Taking Profit in Allos Therapeutics

Sold my position in Allos Therapeutics (ALTH) today. It was speculative position, the idea (that of Jim Cramer) was that ALTH can present good results of its anti-cancer drug on 45th annual meeting of The American Society of Clinical Oncology (ASCO). Well, results are ok, but not great, presentation is over, so is the speculation. One of the rules of trading: if you bought to trade on the event, sell right after the event.

Full disclosure: at the time of publication author did not have any positions in ALTH. Positions can change any time.