New Stops
Ok, the market is telling us that it agrees with my more worrisome comments.
It is beating up on all stocks. All stocks. This is not just taking money off the table or a technical correction. This is fear.
Cisco earnings release is critical. It could stem the fear or spark a selloff.
Let's hedge ourselves (even though it feels late) to prevent further losses.
These stops are defensive and I really don't want to sell. But if the fire alarm is being pulled and it's time to exit, let's go. (I took the STOPS off 2 weeks ago because I saw the volatility but I am putting them back on because I am seeing a run for the exits)
MRVL $65.5
JLG $53.5
JOYG $52.8
MDR $47
AKAM $21.8
STX $24.2
GRP $47.5
SNDK $61
ET $21
ntri none (this is ugly. I think they are just getting beaten up and will come back swinging, but it may take a few months. I'd rather wait than take the loss)
It is beating up on all stocks. All stocks. This is not just taking money off the table or a technical correction. This is fear.
Cisco earnings release is critical. It could stem the fear or spark a selloff.
Let's hedge ourselves (even though it feels late) to prevent further losses.
These stops are defensive and I really don't want to sell. But if the fire alarm is being pulled and it's time to exit, let's go. (I took the STOPS off 2 weeks ago because I saw the volatility but I am putting them back on because I am seeing a run for the exits)
MRVL $65.5
JLG $53.5
JOYG $52.8
MDR $47
AKAM $21.8
STX $24.2
GRP $47.5
SNDK $61
ET $21
ntri none (this is ugly. I think they are just getting beaten up and will come back swinging, but it may take a few months. I'd rather wait than take the loss)
posted by Andrew at
10:40 AM
2 Comments:
are you still considering to buy jblu @10.50 ?
This is interesting. JBLU is crashing, despite oil going down, due to an analyst downgrade. Typically, I would say that this is a buying opportunity, but I don't think the downgrade impact is over.
In general, I don't think near term that institutions are too excited about JetBlue.
So buying in around $10~$10.25 would mean a good longer term (1 year) decision. The question is whether or not you can weather any ups and downs over the year and whether there are better places to park your money.
Let's hold off for a bit. Maybe they will continue their descent.
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