Rightly or wrongly, I am looking for the stock to retrace all the way back to $6.60. This was the last major consolidation point that SLX had before it took off late last year. Any break below this will likely see it tip down towards GE's entry point.
For all the future promise that SLX has, it will not be generating income for another 2-3 years. That's fine in a generally bouyant market, but in a reactive, volatile market, fuelled by credit risk issues (ie: tightening credit, higher interest rates, higher priced credit risk, qualified liquity, etc), stocks that hold future promise, but do not yet earn, or pay out dividends, will inevitably be hit hard.
I have not held SLX for the better part of 5 months now, and likely would not hold again until some time well into the future. Indeed, I'm largely cashed out now, and have switched my watching focus to asset heavy, dividend paying stocks which are largely unaffected by the current issues, and are lightly exposed to either financial, or international wizardry.
SLX Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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