Wednesday, October 21, 2009

BEST

I have to say that my performance of late in stock picks/options positions has been nothing short of disappointing. There is one bright spot: BEST. BEST makes anti-counterfeiting films and films for food safety. China enacted food safety laws in June of this year, which should be beneficial to BEST. They were recently awarded a contract from Shineway, one of the largest meat producers in China.

This is a volatile stock, and I've written about it in the past. I've a basis of $1.14 in this.

7 comments:

Anonymous said...

Still waiting on that intraday reversal to reveal if trend is downward...

MarkM

Anonymous said...

Well, that was right on cue! :)

MarkM

Leisa said...

MarkM...I'm without cable, tethered to my blackberry. Fidelity slow as a pig, but I wasn't moving any merchandise. You warned about this....we are also getting into significant overhead resistance. Hope your day was good!

Anonymous said...

Yep. :)

That was step one. The first little behavior change for the dip buyers. The next is test of the bottom of the uptrend channel. That needs to fail. And step three is for that to become resistance. Once the technical leg is pulled out from the three legged stool......

Bulls will then need some good fundamental news.

We shall see. Good luck!

MarkM

Glenn_in_MA said...

Lots of chatter right now over at RM about the cause of that vicious reversal...me thinks the pay cut story spooked the Street...VIX responded appropriately.

MarkM, and the trend is ??

Glenn_in_MA said...

MarkM...Oops, we were commenting at the same time! First the 3 steps then we know the trend...got it.

Anonymous said...

Glenn-

That reversal had been days in the making. See my post last week.

I am in MA also. :)

MarkM