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.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.