A small note:
Someone last week asked about a stock, VRTY that I had been accumulating from 4 to 5 and began selling at 6 1/2 and 7. I mentioned that as a bottom fisher, sometimes looking for short term bounces, you don't need to stay to long and that pops to the upside are usually followed by a rest, some profit taking, an opportunity for a trader to get out, take profits or write calls and look to hedge.
In retrospect, the VRTY ran up to 8, about 3/8 more than the best price I got for stock and has since fell back about 20%.
Traders: Take profits when reasonable....there are only three types on Wall street, bulls, bears and pigs. Bulls and bears make money , pigs get slaughtered.
Regards,
Steve@yamner.com |
