Bill Ackman was on CNBC and said that Valeant has made a lot of changes in the last few weeks. He stated that Charlie Munger of Berkshire was "wrong to indite an entire company on the basis of a few mistakes." Since Pershing Square owns a ton of VRX stock, what else can you expect Ackman to say? He certainly isn't going to bad mouth the company at this point on national TV with the hit his stock has taken. Maybe with Joe Papa replacing Bill Pearson as CEO, there is more positive anticipation of what will occur than is justified.
Take a look at a one month chart for this superstar stock of the past. It's quite impressive for this month. I remember selling this stuff for over $100 a share a few years back. However, even at less than $3 per share, it now looks interesting.
I'm not going to touch it, unless it gets into the 80's. Tomorrow should be interesting. Over 15 million shares in AH. A lot of folks can't trade in AH or pre-market. The regular session should be pretty wild in the first half hour tomorrow.
Yes sir. Some crummy data was released after the close. TWTR sure has declined from its 52-week high. Much too risky for me. CMG is down to $425 in AH.
I want to trade, but don't have a clue what to consider.
Regarding PRGO, it closed well off its high for the session, but did not tank again today. As far as AAPL, I might tinker with it, if it pulls back into the 80's.
I'm getting desperate for something to trade. Too much cash.
So you are out of Valeant at this time. If you sold it today and will start re-entry @ $35 with the high today having been $36.43, you must still consider it high to be fairly risky and are willing to dollar cost average in the future. PRGO