VRS (Verso Paper Corp) Would you buy into it?

[DuncanKa]

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?

[Dustinwem]

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.

[Donaldhok]

So did you see something prior to the press release, that indicated to you it was a good buy?

[earadazo]

to be honest, did not know there was a press release until your post above.
news might have helped/made it pop, but when VRS came up on the scans and we traded the chart