8/17/15: Salvaging Icarus

By Igor Greenwald • August 17, 2015

MLP Profits Portfolio Action Summary

SunEdison (NYSE: SUNE) added to Aggressive Portfolio; buy below $20
Scorpio Tankers (NYSE: STNG) buy limit increased from $9.50 to $12 in Aggressive Portfolio

For more information, please see the August issue.

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Jasbo7896

08/23/15 ‐ 1:42pm ET August 23, 2015 at 1:42pm ET

In the past 6 months insiders have sold 12,653,300 shares in SUNE in the high $20’s up to $30+ amounting to about $360,000,000.00. and the stock has dropped to $10+ since 8/17. Does this change your thoughts about this stock?

Igor Greenwald

08/24/15 ‐ 8:22pm ET August 24, 2015 at 8:22pm ET

No, it doesn’t. Corporate insiders will sell high and low and, with a few exceptions, that selling does not provide actionable clues as to future prices. As for the losses since the recommendation, this is a damaged stock and this type of action is certainly to be expected in a market this fearful. But everything I wrote a week ago about SUNE and its longer-term risk/reward still holds true.

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