Ooowee… The Genlyte Group Incorporated (GLYT) is up already 50% on the day on the news that they would be bought out by Phillips Electronics making them the biggest lighting fixture company, in North America that is. Wowzers… did I make tons of money today. I am about to look through a catalog of yachts. That is right after a buy my house on the beach.
But, of course, I’m just kidding. I didn’t even know about such a deal before today. On market days when it seems like everything is going down, sometimes it just makes you wonder what could possibly be doing well? So I always look at the top performers during the day and try to see what kind of stocks or sectors would work well in certain situations. It is always a good to turn apples into lemonade… or is that lemons to banana juice. Either way you will notice that most of the time the top performers are somewhat related. The same could be said for the losers. However, there will always be those annoying acquisitions that you don’t hear about until its too late.
So the conclusion is learn how to buy a top performer or at least something that can stay afloat through certain market conditions.
By the way, if I seem all over the place in this post it is because I am still trying to recover from the Thanksgiving Break and somebody didn’t get the memo that most people prefer not to be bombarded with work right after a break.