Tuesday, October 12, 2010

Bookkeeping: Adding to Rovi (ROVI)

Rovi (ROVI) rallied much farther than I anticipated on this most recent run.  After gapping up on a vague Netflix relationship announcement (with few details) the stock peaked at $53 two weeks ago and has since pulled back to near the 20 day moving average.   Earnings are not until Oct 28th so there is some time to be in this one, before the tail risk of an earnings report.  I'm adding a 2.2% exposure to the name today.

There is an obvious gap in the $43s area but for this to fill the stock market would need to be able to actually fall for more than a day.  If the stock closes below the 20 day moving average I most likely will stop out what I bought today.

p.s. thus far the cloud names are bouncing nicely after the morning shakeout.

Long Rovi 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 FundMyMutualFund.com