I’m down less than 1%, mostly thanks to VHC defying the laws of gravity.
I’ll say it again, this is a buyable dip.
Breadth has improved from 12 to 15% since the open. Inside of The PPT, the percent of large caps rated “buy” is at the lowest point in months–at around 6%. Each time the algos have hated stocks this much, mean reversion kicked in and the market has responded with ‘Cocaine Gorilla Rallies’ shortly thereafter.
My top pick is VHC for a very specific reason: earnings don’t matter with VHC, only the lawsuit. Should the suit go wrong, the stock will be cut in half. But that’s the risk I am willing to take for the potential of a 100% run from here.
I have a lot of other stocks in the portfolio, but do not have passion for them into earnings. Frankly, I am afraid to hold anything, after seeing multiple catastrophes in numerous high beta stocks this season.
In short, this is a very benign and mild decline, considering the tone. I am looking for the market to firm up into the bell, leading to a sharp snap back rally tomorrow.
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It is described as a bird with a colorful plumage and a tail of gold and scarlet (or purple, blue, and green according to some legends). It has a 500 to 1000 year life-cycle, near the end of which it builds itself a nest of twigs that then ignites; both nest and bird burn fiercely and are reduced to ashes, from which a new, young phoenix or phoenix egg arises, reborn anew to live again.
Sorry. I respectfully disagree. I see the action the past few days as the Obama flush. The Fed can levitate the markets at will (see yesterday at 3:30pm) but they are apparently choosing not to do so.
To me this is telling. I think we will get more selling until a Romney victory has been secured.
From there, who knows what the course will be but ultimately they will be forced to print because to not do so will create anarchy.
unless of course the selling concides with Romneys rise in the polls…just saying…don’t hate
Check out Drudge, 0bama looking up at the Romney adverts. Too funny.
VHC gains could be greater than 100% if favorable court ruling and/or settlement. We’re talking AAPL & CSCO here, plus a couple other little guys that havent settled yet.
Add UA to the mix. Consumer spending a huge tell.
Selling the SMH etf INTC,FB from this AM purchase for a nice gain, only because I want to take a bike ride.
What percentage of your portfolio are you in VHC. I am 30 percent in the name and thinking should trim before the weekend. Whats a prudent position size for this one.
thanks
15%
Thanks Fly.
My cost basis in 29.10 and would reduce some at 30.0 and hold the rest.
Thanks
Bill
http://www.streetinsider.com/General+News/UPDATE%3A+VirnetX+(VHC)+Volatile+as+Apple+(AAPL),+Cisco+(CSCO)+Lose+Bid+to+Delay+Texas+Patent+Trial/7811396.html
After reading that last post, I am SOOOOO going to vote for OBAMA…he better release the SR Oil to spike those polls, I want my IBANK and Bars!!!
your vote will be repealed, unless you are a man. just kidding!
Sspiff…Mitt is not in Office, ouch, yet.
vrng is another lawsuit play
If we end up finishing green again, I think the bears will need to learn to WAIT FOR THE CREME!
http://www.youtube.com/watch?v=v0HklVuA_WE&feature=related
“I’ll say it again, this is a buyable dip.”
When someone on the Street tells you this, you do the opposite. Stocks, way over valued, momentum bears around the corner, Mutual Funds, will be selling and reallocating to other assets.
Main Street you say then?
Main Street says we are selling now after just breaking even from 2008.
We will just sucker Europe into buying this time. Doubtfull.
Helicopter Ben with another “Emergency-Rate Cutt”?
Mmmmm…. No
I know… announcement of QE4!
Haa Haa Ha.. Funny
Apple you say will drive the market up more then. From $200 to $700 in just over a year. Whom buys Apple higher then. Another theory shot down.
Apple with iPhone 6 secretly announced with even lighter weight only for select “repeat” customers. Sure buddy. Have some more Monster Energy Drink that the Fly threw on his neighbor lawn.
PS.
When does the Fly’s neighbor decided to move?
Really KEY MOMENT TIME, Oil support at 86ish and FX longer term eur/usd 1.2950ish..if both of those MAJOR SUPPORT levels go, we can get a real sell off…Nymph Gangnam Style