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View Full Version : VRS (Verso Paper Corp) Would you buy into it?



AlfredBete
10-17-2015,
So, after some news today that they are acquiring New Page Holding, the stock soared, and closed at 3.21 off of a high of 3.55. Now, I do listen to Jim Cramer fairly often, and one of his tenets is to buy into dips off of new highs (which this is). Now obviously I wish I would've seen the news as it was happening, and tried to get into the position early to try to make a profit on that rough tripling of the price, but now the question is, do you think there's enough upside left, to make further trades profitable?

AndrewOl
10-17-2015,
If you buy purely just to buy news now, you would be chasing a news run. I recommend against this. I suggested VRS today at 2.25 as it perked off the dip around 2 in my chat room. There will probably be other opportunities to enter later this week IF volume sticks around. I will try to post a chart of a setup as it happens here. Of course my chat is priority. Here was todays chart that can be used as a guide for tomorrow. Although it could gap up and then today would be irrelevant except for the 3.52 high. I know a few other pro-traders who are looking to short this if 3.50 area doesn't hold. Of course it could still go higher, but don't let emotions take over and 'panic buy' - most times this ends badly. You want to sell to the chasers, not be the chaser.