Buying Beaten-Down Stocks
“I think you look and take advantage of some of the stocks that are beaten down. ING is one of those. I think the rumors that were swirling about a European bank with a big write-down, which now we know was Soc Gen, and not ING. I think that makes them attractive, and I believe the unusual activity in the stock and options also foretells some good things down the road. The stock’s down today, so it’s a nice time to be buying.
"I also like YRCW , because they have moved their analyst meeting to coincide with their earnings release on Monday. I doubt if they would have moved those to coincide together if it would have been an ugly report.”
Jon Najarian, OptionMonster.com Co-Founder