Biovail took a 20% drop on friday due to poor 3rd quarter forecast.
On the TSX it dropped 8.80 and is trading for 41.80...
I've asked FST his opinion about when would be a good entry point.
It has had some great swings in the past if you look at the chart...
Here's FST's response:
"I would be careful entering a position today.
Even on Monday would be risky.
There are a lot of investors who may not see this drop until after the market closes today and thus will be selling first thing Monday.
Every stock reacts differently to these types of drops, so I really can't tell you when would be a good time to enter.
Just watch the daily chart and TA indicators to turn bullish"
I'll definately try to catch a swing on this one...
entered a 1/3rd position on friday, I should have waited till tuesday or wednesday to start my position... but I got in before i heard back from FST.