EXACTly What We Wanted
#ChartswithJartz - Over the last three months, the Investment Management Team (IMT) has been holding EXACT Sciences Corp (EXAS) in the GAME TIME stock allocation. After multiple buy points, ranging from April to May, we had accumulated a substantial holding percent in the stock allocation. In order to free up cash in the portfolio, we have been taking various gains or losses in certain positions in GAME TIME. The most recent transaction was the selling of a third of the EXAS holding. Since our second buy point on May 17th, the holding bottomed out and rose around 30% when we sold on June 11th. In the chart below, you can see breakdown from the start of May until the middle of the month. EXAS released favorable earnings, but unfortunately revenues provided did not meet analysts' guidance. As a result, the stock price fell below $90 a share. Circled in red at the top of the chart is the Relative Strength Index (RSI). This indicator shows if the price level is signaling 'over bought' or 'over sold'. In May, the indicator dipped below 30 and signaled 'over sold'. We then doubled our holding in EXAS and bought more shares. We decided to sell a third of the holding to take gains on those shares from May 17th and free up cash to create more buying power. To see more updates on holdings and strategies, look for our weekly blog post every Wednesday afternoon.