Stopped out $VED at 975. $IMG (imagination tech) continues to get savaged. 2CentView strategy is cut losses on your stops for precisely situations like this and remain well diversified.
$IMG – FV has been dropping since their recent earning announcement. Now FV=150, which implies %14pct growth – PEG 0.75, so quite conservative – but could be further earnings downgrades – waiting for it to hit a bottom – and bounce back.
$VED – FV=850 now. Diversified Metals and Mining ($VED, $GLEN, $AAL, $RIO, $BLT) still trading at overall 20% sector discount, as they have all year – so market as usual is proven right – this was not going to be the year for commodities. Still in $GLEN, where my stop is 260. If next year could be a better year for this sector, then there could be some real bargains to be had. But no rush to buy now.