I believe there’s an old saying about how it’s better to be lucky than smart. I’m seeing an example of that today, since I had been short Alere (ALR), and I closed it at a nice profit last Thursday. I see this morning that it’s up nearly 50% due to a takeover. That’s a bullet I’m glad I dodged. Sheesh!
It seems that the fantasy world of Kuroda (“negative interest rates will surely bring prosperity to the people”) has been shoved aside once more by reality from China (“down, down, down goes the economy”) and I’m seeing a lot of red that was annoying absent on Friday. Let’s hope it stays that way, with crude, once again, leading the way lower. Here’s the failed breakout:
