For what it's worth, I sold HAUP and VRTL several weeks ago based on my (correct) assessment, at that time, that they were about to experience significant declines. I believe I posted my sells at that time, and my predictions proved true (although I caught a lot of heat for voicing my negative views at that time).
However, after watching HAUP's and VRTL's action over the last couple of days, I just couldn't resist and began to buy back in today with HAUP at 9 3/8 and VRTL at 4 1/4.
Although I agree that HAUP and VRTL can go lower, at this level it's just too tempting. Also, unlike my prior buys which were through my SEP-IRA account, this time I bought through my regular account. The reason this is significant is that I trade in and out with my SEP-IRA account and seldom hold for more than a month or two because there are no tax consequences. However, when I buy through my regular account, I try to hold for at least a year or more in order to minimize the capital gains tax. Thus, my buys today are intended to be a very long term holds.
I likely will be picking up some more HAUP and VRTL over the coming week or two based on what happens with the general market. Although I am very concerned that the general market has begun a correction, and most of my portfolio is in cash, I nonetheless find it hard to resist putting a portion of my portfolio in stocks like HAUP and VRTL which already have been beaten way down despite great futures.
-- Jim Wright |
