Valeant? VRX

I guess real question is will it hold here or sell back off again

 

I'm still holding some of the common, but I'm going to wait for vol to die down a bit and then load up on 18AUG17 strangles to play the implied vol ramp into earnings on Aug 8th....I think that is the most "certain" money to be made here...last earnings brought extreme fireworks and I think traders will start looking for that again as we get closer to earnings.

 

First, congratulations because there were so many naysayers (m22au...).
Now, Valeant is a LT buy. But after a +120% rise, Valeant can't hold much longer.
Support zone is @14.5 /15 (a little -20% decrease), a good opportunity to increase holdings.



CM

 

1 month later... VRX close to a big rebound if 14.5 / 15 dollars holds.
Target : 20.



CM

 

Hedge fund Paulson & Co trims stake in Valeant

http://www.reuters.com/article/valeant-pharm-in-stake-paulson-idUSL4N1KV6JK

 

Well that's disappointing lol

 

To understand how and why Sequoia bet the farm on Valeant, you need to understand value investing. "https://t.co/xgRdPXNVnQ"

 

I am still positive for VRX if last support @13.5 dollars holds.
Breakout above 14.6 => Buy.
Target : 20.
If price closes below 13.5... Out



CM