Rubber Band Stock

Hand me down my walkin' cane
Hand me down my hat
Hurry now and don't be late'
Cause we ain't got time to chat
You and me we're goin' out
To catch the latest sound
Guranteed to blow your mind
So high you won't come down

I don’t think it qualifies as a great song, but it did have a catchy beat. Reading online, it is by the Spinners and is about a man who can play a Rubber Band between his toes. Betcha you didn't know that!

You now hear it all the time on a commercial. The commercial must not be effective as I can’t even tell you who it is for! Either Office Depot or Staples I think, probably OD as Staples has the Easy button (that one I remember).

IVII qualifies as my Rubber Band Stock. Since I have owned it, it has dropped below $9.10 4 times. Check out what happened each time in the following two days.

June 19th: $8.85 to $9.63 (8.8% gain)
June 28th: $9.09 to $9.73 (7.0% gain)
July 24th: $8.86 to $9.72 (9.7% gain)
August 20th: $9.02 to $9.70 (7.5% gain).

Now four points do not necessarily make a sure thing, but I think the next time IVII drops around $9.00, that I may be a buyer.

Not a great day in the market. My move last week to buy PTSC, PONR & TGIS low has paid off as PTSC went up 6.5% today. The bigger question is what is going to happening? Cramer was pretty bearish today (The Kiss of Dearth). He gave 7 (count 'em) reasons why the market will be going lower over the next 3 months. Of course I love Cramer's suggestions for making money:

But if people want to make serious money, they need to look for companies that can beat their earnings and estimates, he said.

"Stocks that beat their estimates go higher," Cramer said.

Thanks Jimbo! Of course then when a stock beats estimates and doesn't go higher, he'll talk about it being priced to perfection or that street estimates were actually higher than the analysts showed.