Update - WST HS TLK

HS opened near its high this morning, seeing its high of $17.81 at 9:37am. It then went on a big decline and even went red on the day. The low for the day was $16.51 representing a drop of 7.3%. Of note, UNH United Health also had a down day today, and as I mentioned on Friday the two stocks did seem to trade in a similar pattern.



WST opened up in the morning higher than Friday's after hours price of $36.25. The stock traded as high as $37.01 at 10:46am before falling. I had said I was going to look into stocks that hit 52-week highs on the Cramer mention, but found that to be difficult since I only know what the 52-week high is as of today, and not the day Cramer mentioned the stock. Several of his picks have reached new 52-weeks highs this year already. So the question about whether people take their profits or let it run isn't really answered yet, but after the WST action today, so far it looks like they let it run a bit. The stock did come down to $35.94 by the end of the day so all shorts from Friday would have been out safe by now if they stuck through the run-up.


TLK was another 52-week high pick. It is now a second example where the "52-week high" picks do extremely well, which means bad for the shorting. This one opened in pre-market above the the trading price on Friday after hours on light volume. It dipped at the 9:30am open to $35.05 before running up to its high of $36.11 at 10:37. It only came down to $35.75 near the end of the day, leaving anyone who shorted after hours on Friday underwater. So, a new rule to not short stocks that have hit 52-week highs the day Cramer mentions them may be in order. I will do some more work to see if I can dig up what the 52-week high was on Cramer's picks in the past, but currently it is proving difficult to do.