RE:RE:RE:The chickens always come home to roostVega1357 wrote: Vega1357 wrote: Vega1357 wrote: The chickens always come home to roost and overvalued stocks always return to their true value. I think that RNW still has a ways to drop in its recent correction and I won't be buying for a while yet. In the meanwhile, I'm in FTS and ALA. These are two undervalued stocks in the utilities sector. You want to be long undervalued stocks and short or completely out of the overvalued ones like RNW.
RNW is now $2 below where it was on February 12 when I wrote that. Relatively, RNW has done worse than FTS and ALA, and I'm still not buying RNW despite today's drop. The great Vega.
I forgot to add that I'm also long NPI. You want to be in NPI as well.
I upvoted your original post from 2 weeks ago calling RNW overvalued. But I don't undertstand why you would buy NPI and think that it isn't similarily overvalued and be spared a correction? ALL these stocks have another 25-50% downside. They are THAT overvalued.