So your saying that if someone doesn't believe stocks go up forever and never go down they are a bear? I like to practice the ancient, forgotten art of valuation. I realize stocks can be over valued at times and undervalued at other times. If that makes me a bear, then so be it.
I went over past P/E valuations for CELG to develop a price range for current value of CELG. Historically, CELG trades at 25 to 30 times trailing 12 months earnings. We currently have $4.28 in TTM earnings. That gives us a price range of $107 to $128.40. With us sitting at $124, there isn't any value here at 29x TTM earnings. Wait and see if this market gets us back to at least $112 before buying.
On the long term, CELG is still on track to hit $12 in EPS for 2020. With a 25 P/E on 2020 earnings, we could see a price of $300. That is another 141% potential upside or 28% annual return.
these message boards attract all types of people 95 percent of them are clueless
I had an order, the day we crashed at 115.50, I pulled out my order at 9:28 am and I received pending cancel message. It never canceled and I was filled at $104.28. I guess I should be happy?
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I always leave in very low bid go till complete orders incase of a flash crash like that. Bummer only 1 managed to trigger.
Not a chance this week. Not even next week. It is over. That chance happened only once for the big guys to take $$$ away from the mom and pop investors. It will not happen even for the remaining of this year.
I saw $112.90 after 8am today and it stayed at$113-$113.30 for a short time but I believe it is done for $113 this week. $116 or $118 tomorrow is possible but not lower.
Honestly, I don't think it is all clear yet. I do think we can nibble on any more big down days. I expect a bottom to form between 1820 and 1950. First time we get some bad data out of China or the Fed says something stupid, you will have your chance.