Sell LJ International
JADE – LJ International (NASDAQ) – (Closing Price – $2.79)
I recommended LJ International as a speculative pick based on the company finally reporting earnings. However, the company didn’t get a pre-earnings run like I thought and the company reported disappointing results. Therefore, I am going to recommend to sell LJ International.
Disclaimer: I sold my position in LJ International.
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I do not think oil will touch $200 a barrel unless there is some sort of major event that disrupts supply (major hurricane through the Gulf of Mexico or Isreal attacking Iran). I actually think oil is way overdue for a correction and the longer speculators continue to push oil up the bigger the eventual fall is going to be.