VRX is a contrarian play and a long play hereI make the most money buying beaten up stocks.
Made a fortune recently on TCK.B and FM (sold hold and keeping the other half "free" shares for longer term, never sell into a bullrun).
Now, I've been asked "WTF Are you crazy on VRX??" and that's fair enough, it's 100% negative stock. Why would anyone buy VRX here?
Well, that where contrarian thinking comes in. I buy the stuff nobody wants. Proof:
https://www.barchart.com/opinions/stocks/VRX.TO
| Overall Average: 96% Sell |
| |
| Price | Support | Pivot Point | Resistance | | 40.91 | 28.27 | 37.17 | 46.07 | |
I bought a fair trading postion on margin to boot at sub $40 because when I did the overall rating was 100% Sell. The press was 100% negative. LOVE IT!
Now? Well one short term indicator, 2
0 Day Bollinger Bands®, has this as a HOLD
I follow TA very closely and combine this with a contrarian view and the ability to think short to long term is a great trading strategy. But... if you want to follow clowns to gold, the worthless fake money supported by the US's biggest enemy, go right ahead!
Shorts! Good job on this one! Thanks! LOVE IT!
PS Oil is the new gold! The US will make sure of that and has already did!