The market continues to show strength, as most of the news out there is positive.
RHIE dropped again today as it still hasn't found a bottom. It will be interesting to see if Seth Klarman picks up any shares at these levels, as he has in the past. As usual when this happens with a stock, you get people on message boards and blogs saying they are done for. They are most likely short the stock and aren't willing to have a conversation about it. There are always risks and its important never to risk more than you can afford to lose, especially with a stock that is this volatile. That's about all I have to say about that. I had reasons for buying it, and I still see value there. It may take time for that value to be realized. If it was easy, everyone would do it.
I continue to see more confidence out there, and as much as I feel stocks should pullback, it may just as easily not happen for awhile. There are still pockets of value out there. I don't like many large caps at this point, as most are overvalued when looking at the whole situation.
As always, I'll report any transactions and/or ideas that come up and I welcome your ideas as well.
Thanks for reading.
Disclosure: Long RHIE