Today may turn out to be one of the worst market days in recent history.
We are keeping our eyes on securities that have the most resistance to the trend; in other words, track the stocks that hold their value while the rest plunge. Soon enough these companies will present buying opportunities as the dust settles.
Meanwhile, hold on tight, it's going to be a rough ride!
Monday, August 24, 2015
Wednesday, August 05, 2015
Tuesday, August 04, 2015
Since July 1 of this year, we have seen the price of TRS deteriorate from the 29.60 level.
This morning, after an earnings report that missed estimates coupled with lower forecasts, the stock is trading at 18.90, down 17% for the day and a 37% loss in just over one month.
Trading volume in the first ninety minutes is triple the daily average. At this point, I believe that we are experiencing and overreaction and could see a partial bounce back in the next few weeks.