Remarkable turnaround in this one, down to $6.125 early, now around $7.75! I thought about buying more, but I have about 20% of my entire portfolio in Valence. Getting a couple thousand more shares would weight me too much in VLNC at this time. Other 30% of my portfolio is in small cap mutuals, NI Microcap and Robertson Stevens Microcap, plus one large cap, Spectra Fund. They took a beating yesterday, but should fare well today given the markets turnaround, for now. Remaining portfolio is now in cash. Seeing the potential of a real downturn/crash makes me want cash right now, even though their are/were bargains from this morning's prices.
I still think that our markets have more of a sustained correction togo through. This 110 point sell-off and next day 45 point gain doesn't make for an adequate "correction". In absolute points, yes it's daunting, but in % terms, it's only 12% (combined with last week's drop). Considering the markets have gone up 40%+ over the past several years, 10% doesn't "make things fine", IMO.
So, being in a stock like VLNC that doesn't (normally) track the market (which made the low $6s a bargain basement buy), seems to be the right choice right now.
Good luck to all. |
