Mike
08-22-2016, 12:28 PM
Some of you track my portfolio posted at the top of my watch lists. This morning I woke up to MDVN in my portfolio up 20+% because Pfizer is acquiring them. I have a rule that says to sell immediately any holding that announces they are a target of an acquisition. Acquired company stock goes into arbitration for months. Arbitrated stock prices do not move, so dead money.
One of my holdings is ACIA. Reading other forums, I notice a lot of people cashing out with 100%+ gains. I can understand this sentiment. My hope is that this selling will cause a short term sideways movement over one to three weeks forming a high-tight flag and subsequent breakout. I am not one of the sellers. My intention would be to double down, buy a whole additional position if this happens. ACIA shows a tendency not to string two down days in a row, so this may never happen.
Watchlists were updated yesterday.
One of my holdings is ACIA. Reading other forums, I notice a lot of people cashing out with 100%+ gains. I can understand this sentiment. My hope is that this selling will cause a short term sideways movement over one to three weeks forming a high-tight flag and subsequent breakout. I am not one of the sellers. My intention would be to double down, buy a whole additional position if this happens. ACIA shows a tendency not to string two down days in a row, so this may never happen.
Watchlists were updated yesterday.