Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: A day after Quiksilver
So what: Yesterday, the market thought PPR might be interested in adding Quiksilver to its stable of companies, but the excitement has worn off quickly. We're almost back to where we started for Quiksilver, which isn't all bad for investors looking to buy the stock.
Now what: Usually I would say buy the rumor, sell the news, but this time selling the rumor has been the right move. The market has come back to its senses after a fast ride higher yesterday, and now more fundamental investors can start looking at Quiksilver again. This Fool is glad we avoided a speculation trap and would still like to see the stock fall a little more before jumping in.
Interested in more info on Quiksilver? Add it to your watchlist.
Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.
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