He’s a buyer of CALL aka “MagicJack” and so am I.
I initiated a new position today, selling a little BX and all of DSS to raise assets.
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Joined Nov 10, 2007
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I typed in CALD by accident. I think it was a happy accident.
Don’t know how much of a position for you but I hope it’s not much. Never understand a lot of your rationale and plays. You bought a stock after it bounced from 11 to 15. A 40% move up and you’re getting long. I would look to short here. Wow
It s a 5% position.
Why would you short a stock simply because it went up?
Do you think valuation is wrong?
Earnings are on 3/18
Momentum is one of the most persistent market anomalies out there. Has worked for 100 years. In other words, buying a stock that is going up is a better strategy than shorting one that is going up. Probably 100 or more articles of academic research confirm this.
It bounced 40%. So what? Even after the bounce, it’s still down 47% from 2012 highs.
NAV up and away!
Your picks are ripping today Fly. Housing for the win.
And…..this just in……
Methinks the youngster in NK has led a sheltered life and vastly overestimates his countries military. Or else, considers china to be in his back pocket as a trump card.
Or….perhaps the bloody Chinese are behind the whole show…
At any rate, I would hope that our friends and allies along with our troops based there in Japan and South Korea have their shields up.
http://finance.yahoo.com/news/art-cashin-experts-traders-north-154511981.html
I don’t it’s the kid – remember he was living in Europe when his dad died, if I recall.
The military leaders and party powers are the ones going bat shit crazy. They stand to lose the most from reform.
doubt*
The Fly- valuation on the stock is right now a moot point if earnings come out on 3/18. We won’t know what the real near term valuation is until earnings are released and they provide guidance. I didn’t even know that earnings come out on 3/18. Now that I do, it’s clear the stock went up because A) it tanked hard to I believe a multi-year low, B) good market C) earnings anticipation.
BUT, if a stock is up 40% from multi year lows it can be a dead cat bounce or short covering. Would have to say strictly speculation they have good earnings. Anyways 40% up is a big move. All the guys who bought in the low teens are now looking to jump ship. Dunno, just the way I approach my trading. I am a natural contrarian though I will play breakouts/breakdowns and chase momo up or down. But I’m a firm believer as is Paul Tudor Jones, that the bulk of the money is made in the pivots or turns. Sucker has turned. Anyways, hope it runs higher for you, and by all means it can. I”m just saying… Peace
Congrats on NAV by the way. Had a fat play on it short at 36 area and covered at 34.60 ish. I’m really a day trader but of course look at the long view too
Don’t know anything about the Magic Jack stock but their commercials are horrible.
They look like they were done by a High School Distributive Education class, or worse.
checking around the web, there’s rumors of a new product. fwiw.
FWIW, my kid and his friends all have magic jack on their kindles.