Feeling Very Violated as MDR Gets Dropped Below $49
Yeah, I don’t usually make venting posts, but seriously, who the heck is relentlessly selling MDR at the open? Took it straight from the open above $54 down to $49!!! Someone’s dumping MDR like it has subprime exposure! Are they selling it because oil is down lately? HAL has much more oil & gas exposure and it’s not even down this ridiculously much. Or, are people just selling anything non-financials so they can jump into financials…AFTER this 50% move in the XLF?!?! Are so many people seriously trying to get into the financials or short cover the financials that they’d dump the actual good stocks…the stocks with earnings? Why would you sell the companies that are making money everyday for companies that are losing money everyday… Are the banks out of the woods after this earnings report? HEEEEECK no. Just for the moment people took the prices down to where THEY WILL BE at the end of the year as housing keeps getting whacked…just shouldn’t be there now. It’s like selling a beemer to buy a tricycle just because the tricycle pumped up its flat wheels. This is wrong, so wrong. The sharpest snapbacks occur in bear markets. Whoever’s jumping into financials here are gonna be pantsed like nobody’s business. If you think you have too much money, donate it to charity. Throwing it away on picking financials bottoms.
**Disclosure: I am long MDR and bought MDR Feb Calls as MDR dropped below $49**
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July 23rd, 2008 at 9:38 pm
Don’t worry, the market is doing wacky things - even to the good companies.
Investors are skitzo these days.
I mean, look at AAPL’s two day intraday chart, just insane.
My beloved JCI too…fell 12% only to recover and climb 10% - WTF?
Same goes for many of my holdings, investors are insane right now.
10% daily swings seem like nothing, and happening all over the place.
Hold strong, and stay rational.
August 21st, 2008 at 4:45 am
[...] vigor today. The commodities (and the companies fund managers treat like commodities- including my beloved McDermott, now in a wheelchair after having is legs cut out from under it) have dropped basically in a straight line since end of June/early July that a bounce was [...]
August 21st, 2008 at 11:02 am
[...] managers treat like commodities- including my beloved McDermott (MDR), now in a wheelchair after having is legs cut out from under it) have dropped basically in a straight line since end of June/early July, so a bounce was [...]
August 21st, 2008 at 4:03 pm
[...] managers treat like commodities- including my beloved McDermott (MDR), now in a wheelchair after having is legs cut out from under it) have dropped basically in a straight line since end of June/early July, so a bounce was [...]
August 21st, 2008 at 4:04 pm
[...] managers treat like commodities- including my beloved McDermott (MDR), now in a wheelchair after having is legs cut out from under it) have dropped basically in a straight line since end of June/early July, so a bounce was [...]