A Timely Reminder

On such ugly day, it is always nice to be able to share a happy chart to serve as a timely reminder of why we're still in this game. Shares of Nova Chemicals (NCX) soared +285% today on news of being acquired by the country of Abu Dhabi.

If you recall, NCX was one of the 36 stocks we're currently tracking due to their wide discounts from book value.

Apparently those with cash to spend in Abu Dhabi are running value stock screens these days. If the market is going to bottom, we need to see a lot more of the same as vultures go to work.