RE:RE:RE:CXR isn't a stock. It's a drug! My best friend...Its almost unexplainable. So many longs were defending the company before the last earnings given the two news releases issued and said there was no way they would guide down. One long even said it would be illegal if they didn't disclose they wouldn't meet guidance! Yet, some of the same people are still here defending management and i just don't get it.
Fool me one shame on you, fool me twice, shame on me.
Cxr is a toxic drug for which the addiction is just too strong to kick for some. The denial is just as strong as with any other addiction it seems.
Blazesb wrote: My friend just won't listen! Except for CXR he is an otherwise sound and sober investor and a good one.
He'll wade through Linamar and Magna's earnings reports to weigh just which is the better buy as if it matters which, to him, it does. REIT yields, ETFs with low volatility--all buy and hold decisions for the long term--and he does just fine. Safe and sound all the way...except for freaking CXR!
"What about the oil patch?" I would say last February/March. "These things are beaten down--oil's making a bottom. Why not pick up a few and see if they'll come off the floor?" "Nope, might go out of business. Too much debt." "Well, CXR is leveraged to the eyeballs, what's the difference?" "It's a growth play. Gotta pay a premium for growth..."
Three weeks ago he calls me up and says what do you think I should do. Understand, I don't say what I say here. Instead I say 'It's your money. If it's keeping you awake at night then, as the saying goes, 'sell down to the sleeping point'.
There was a point last spring where he picked the newest bottom as his entry point. CXR was around $60. A day later he got out because 'it didn't feel right...thought about it all night'. A few days later CXR falls off another cliff down to the low forties. My friend feels like a hero. And that should have been the end of it. But nope, back in he goes, makes a few points, sells, buys again, scalps a few more points and...here we are in September and CXR is his single largest holding. His 50 grand is now15.
Don't post and say 'your friend is an idiot'. He is. He knows he is.
CXR is not a drug stock. It's a drug!