One of my two mid-term plays right now is ROKU. ROKU has recently plummeted from its high above $175 to a low below $125. This morning it began its rebound on the announcement of a new product launch. ROKU unveiled a new line of streaming players and also launched a new operating system. If you can pick up some ROKU in the $127.70-128.00 range, that's ideal. However, I'm not at all certain that it's going to oscillate back down that far. Given the bargain price and upward catalyst, I only see ROKU going up from here. I entered around 131.50 and will hold for the medium term.
Comment:
ROKU went below its previous low, and I stopped out of the trade. First trade that's turned against me this badly in quite a while. In retrospect, the stock is still overvalued even though it has come down so far off its high.