by Gavin M.
In this first edition of my stocks that make you go WTF, we have three that are still at lofty levels yet no deals have materialized. Why are they still up? Because, fundurrmentals. PRGO-MYL-TEVA's circle jerk continues to rage on, leaving investors hoping to the Lord Bernanke that this deal will eventually come into fruition.
There is our favorite, ALTR. The company that is doing what BBRY is doing in 2011 - overpricing itself. INTC gives a good price and yet they think it's not enough and that they should raise it some more. Why not right? Would you pay $300,000 for a used Lamborghini? I think not. But while the investors of ALTR keep hoping against hope, the stock continues to hover around post-announcement highs because IT CAN! It is amazing. For those of you with balls of steel, short this. I personally think this deal won't happen but I don't have the patience to wait for them to finally wake the heck up.
Lastly, Avon Products. Yes, those products that your ex gf, gf, ex wife, wife or whatever used to put on herself or sell to her friends. A fabricated filing caused the stock to pop only to find out later that it was fake. The FBI is currently investigated. What is remarkable is that this stock is still above its lows even when Avon specifically came out with a press release saying there are no DEALS.
I present to you, your efficient, fair and honest markets.
Traders from Equity Sense will be writing on this blog on positions and other market-related things.