VRX - time to buy ?

Rock 'n Roll Boyz......
Valient down today on huge volume....21 million shares so far.
However, the whole biotech sector is getting creamed today.
A Double bottom could be forming......25/35 debit call spreads may be the way to go with VRX.
 
I respect Jim Chanos, but he is not always 100% correct.
No doubt, this could be an Enron deal....
it has all of the earmarks....crazy pricing, poor accounting, fraud, corruption.
Can Pappa and Ackman counter these issues ?
That's the big unknown....and will take a few more months to vet.
 
syswizard said:
A Double bottom could be forming......25/35 debit call spreads may be the way to go with VRX.
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In a bear market, there are lots of "double bottom could be forming" and other "guess", "may be", "should be". But in reality, there are lots of "new new lows reached".
Again, I ask you the question because you seem clever : why do you want to buy in a bear market ? Or sell in a bull market? Reward / risk is just ugly.
This is a loser strat. Losers always try to buy what they consider "oversold" stocks and sell "overbought" stocks. It is psychological, not rational or financial.
You think you are smarter than" the herd". Same as our friend Hajimow who wants to sell MCD.
But truth is that the herd, everyone wants to sell overbought stocks and buy oversold stocks. This is not contrarian, this is noobish.
Better buy strength during small corrections, and sell weakness during small rebounds.
So after every small rebounds, VRX will make new lows and new lows. Forget you calls, debit calls spread or other bad ideas.

CM
 
Chris Mac said:
You think you are smarter than" the herd". Same as our friend Hajimow who wants to sell MCD.
But truth is that the herd, everyone wants to sell overbought stocks and buy oversold stocks. This is not contrarian, this is noobish.
Better buy strength during small corrections, and sell weakness during small rebounds.
So after every small rebounds, VRX will make new lows and new lows. Forget you calls, debit calls spread or other bad ideas.

CM
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Actually MCD was a fabulous short when it hit a ridiculous price (and valuation) of 130.
WTF....contrary plays are risky, but when they work, they're home runs.
 
syswizard said:
Actually MCD was a fabulous short when it hit a ridiculous price (and valuation) of 130.
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Fabulous short ? -5.5% in 6 days ?
If you bought puts with perfect timing, perhaps you could make some money. Perhaps.
Maybe you think "MCD could be forming a double top" ?
I got bad news. MCD is still mega Bull, don't expect a 40% decline, oh no. VRX oh yes.

CM
 
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