Wednesday, May 25, 2011

Near Miss On Diamond

Yikes! I turned on the computer a few minutes ago and Diamond Foods was up $4.61 or 6.7%. Yesterday I played golf out of town and I spent today catching up on home ownership projects. Procrastination saved me. No shorting or put positions started on Diamond. Money still in the bank.

Why the performance boost? B of A/Merrill raised DMND from Neutral to Buy and Diamond had a great day. All the ratios that encouraged me to be negative on Diamond are more extended today. There's more money to be made, but after a near miss I'll wait a few days and see if there is more buying. A reading of the Merrill research will also be in order, although I don't expect any deep insight.

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