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Scramble to sell XOMA on a day it "xoomed" in Price, 80%...

|Includes: XOMA Corporation (XOMA)

     My most "defended" Position in 2010 had been My Investment Clique's holdings in XOMA Pharmaceuticals ($15K IN).  We had done more dollar cost averaging on the stock than with any other in our Ports.  We're "lucky", so there wasn't an oppotunity for much such averaging during the course of the year.  My mantra was always "I have faith in XOMA; don't worry".  
     We're Active Investors and Taking Profits is a big part of our modus.  Even in '10, wehad plenty of Prof Ops.  Well, finally, we decided to Take End-Of-Year Loses to use as a Tax Hedge.  For Rookies, we do fairly well and there were only two losers out of  67 Postition worth taking the dive on.  XOMA, being one, ended up on the chop block. 
     I agreed with the caviat that we'd repurchase the shares after the 31 day grace period for the tax loss.
     Last Friday the list was set and plans were made to sell on Monday.  Being a co-GP of The Clique, I took it upon myself to do the trades.  I had Christmas entertaining to do on Monday, but when I got home I programed all the sell into our varios accounts to dump at Market, Tuesday Morning.
the Rest is History.  XOMA jumping 80% that day.  Our's were automatice sales, but we had Friends and Family who needing a Tax Hedge, who scrambled to SELL their XOMA Positions BEFORE it rose too much!  Not too often that happens in our Trading ans was a bit of a funny situation
     I Still think XOMA is and atractive Stock and will be back in it in 2011.  It's one to tell the grandchlidren about the race to Gain Loses.