I noted here that I had taken a speculative position in WCG. My basis is $24.15. I tried to sell it on Friday for $27.60, but that was just too high for any takers. The stock later dropped a couple of bucks because the company was going to delay their filing--they were to release numbers on Monday.
As I awoke this a.m. and was enjoying morning coffee with snuggling puppies, I noted that WCG was trading at $33. Though I did not see their earnings (which were quite robust) at the time (they did not release until 7:24 a.m.), I did see some color on the investigations.
You may recall that this stock was halted and tumbled from $120 down to $60 and then down lower. I closed out at $40 this a.m. Oh, this stock may go back up to $60--or higher--but I don't understand the issues. I'm perfectly happy taking the money and running.
5 comments:
Go girl, You are definately on to somthing with your logic! Enjoy reading your blog.
Bill had some very kind words for you today also!
vavoline6
V_6: Thanks for your kind words. WCG was definitely a one-off! Bill's kind words were appreciated as well.
New lows exploding. Bullish percents declining. Summation declining. Increase in bearish distribution. ADV/DEC remarkably steady, except for Naz, which advances on the back of very few issues.
stockcharts 52wk lows for mutual funds is littered with small cap value and midcap value names including that of Wally Weitz who seems to have bitten big on the value traps of mortgage insurers and builders. If experienced managers are taking 10% hits what do you think the average joe trader is doing?
Very dangerous market.
L-
I think we are close to witnessing a parabolic move in gold. If this closes the week anywhere near here, I think we can conclude that the hands are off the wheel.
Okay then. Gold now at $845. Dow futes at -148. Seems that little TA thingy works. That and fundamentals of course.
ABX indices plunging. $USD plunging. CRE has rolled over due to tighter lending standards (and that fact that they follow rooftops). Housing is DEAD for the next 18 months. Business investment conditions slumping (according to CEO Confidence measures). Consumer? Ah, the great wild card. Will he/she continue sending Mastercard stock ever gloriously higher? YoY change in retail sales figures say no. ICSC says "We are worried about holiday spending".
Should be interesting.
Broken Vows
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