Monday, August 2, 2010

Bookkeeping: Adding to Monsanto (MON)

Unlike some stocks which are now looking completely egregious - yet still have people chasing after them as if there will be no stock to buy ever again after today, see these punks for example...

I feel more comfortable with stocks that make a nice move, consolidate, churn a bit, and then start a new leg up... this seems to be the case with Monsanto (MON) after resting for 2.5 weeks.  I don't see much resistance until mid $64s so I'll throw on another 1.8% exposure to my 2.4% I already have.

Game plan with this one is to sell material exposure if and when mid $64s is reached, and if the stock is strong enough to just burst through, get the shares back I sold and keep riding it. 

Long F5 Networks, Monsanto in fund; no personal position

Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.

Copyright @2012