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
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