Cults in our Midst
After exchanging a few Tweets last night with Jim Cramer regarding Amarin (AMRN), I realized the extreme emotional reactions on Twitter regarding the company were worth paying attention to for today's trading.
Actually, these reactions have adjusted my longer-term view. Although they can be short-term in nature, these emotions will bring about volatility and create a cult stock. I don't like holding cult stocks longer term, especially biotech. The hostile reactions to Jim on Twitter last night surrounding AMRN threw up a big yellow flag of caution for me. I still hold the stock, but have hedged my position with short-term weekly and August expiration puts. I am delta neutral at the moment and it should remain that way between $10 and $14....315 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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