I just wanted to point this out, to showcase how we all have the same experiences in this market. I had pointed out Thoratec (THOR) about a month ago, and had waited patiently for some kind of serious pullback - it never came. Finally yesterday I threw in the towel and initiated a beginner stake (I capitulated, tired of waiting for it). Now today, it has the pullback, down 7%+ :)
Since it has fallen nicely to the 20 day moving average and is in the 1 space in the market that is "relatively" sensible to invest in on fundamentals, and is being rewarded, I will incrementally buy more here in the mid $25s. I just wanted to point this out, because I'm sure many of you have experienced the same thing. The market loves to mock us all.
I've taken Thoratec from a 1.1% to 1.5% stake. If I had more faith in the market overall I'd make it a larger stake but if we get the type of selloff I assume could very well happen there will no "safety".
Remember folks, (a) the world will end or(b) CNBC will declare the end of the recession that never happened - based on the all important jobs report tomorrow. The report is faulty and we mock it each month for its terrible data but all the lemmings react like 4 year old toddlers to it, so we have to point out it's importance since hundreds of billions of dollars will move on +/- 10K jobs lost or gained tomorrow.
Long Thoratec in fund; no personal position
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows