They looked like hot stocks. So how are the traders playing Walgreen, Tenet Health and more now that they’ve been burned?
On January 29th veteran trader Gary Kaminsky thought establishing a position in a drug store stock could generate some healthy returns . “I like Walgreen ,” he said. “I like the management...as they continue to try to drive more traffic to the stores, profit margins should grow.”
As it turns out this trade took a turn for the worse and then went downhill! Since he suggested going long shares have slipped lower. What does Kaminsky have to say about this stock now?
I'm still bullish, he reveals. Walgreen should grow in a no-growth economy.
On January 19th the Liquidator recommended a different area of health care as a remedy for stock market ills. “Look at hospitals,” he said. “Look at Tenet Health care.”
Unfortunately if you followed the Liquidator into a long position, you’re probably in need of triage, right now. Since his call, shares are down over 10%. What does Terranova have to say about this stock, now?
I still believe in this stock, he says. I'm staying with it.
On January 20th the Negotiator hoped a digital trade would light up his screen with green. “Look at Western Digital,” he said. I would be a buyer, they are cheap.”
As it turns out, a long position in this tech name triggered a big red danger signal. Since the call shares have tumbled. What does Adami have to say about this stock, now?
I was wrong with my timing, but I would get long at these levels, he says.