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Why I'm Buying Gilead And Selling Celgene

Today I am starting a new mock portfolio on Seeking Alpha: the Pairs Trade Portfolio. Every transaction made in the portfolio will be a pair of trades of equal value (as close to $20,000 for each stock as can be), one long trade and one short trade. I plan on adding to this portfolio - and readjusting as necessary - over the next months and years and it will probably end up being a rather large study. The first trade is to go long Gilead (NASDAQ:GILD) and short Celgene…