BBRY, a stock I’ve held strongly due to its thus far successful transition to a software company from an old fashioned device company, is up big because of just that, software; specifically its security software niche. Its software can work on PC, Mac and connected devices.
Frankly, I don’t know what to do with this because it is not a trade, it’s an investment. We update the chart every week (as long as I hold it) in NFTRH and it was already overbought before this event. Not complaining, mind you. But I hate hysteria, mini or maxi. Well check that; I like it when I am on the right side of it or the people doing it provide an opportunity.
It’s funny, just yesterday I added Mr. Softie because it was on the opposite side of WannaCry and I thought maybe the hype against windows – which I frankly can’t stand – might have played in knocking a good (but richly valued) company down. Insofar as I am going to play stock bull, this is the kind of stock I’d like to play it with (ref. yesterday’s discussion about tax dollar repatriation).
So I bought Softie on the drop and was rewarded with a reversal and Hammer yesterday.
But more and more it appears the markets are running on emotion and bulls will just have to deal with that. It’s not bearish, it is what it is. Risk and bullishness coexisting indefinitely.
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