Bausch Health Companies Inc (BHC)

[Zilla]

I've been in VRX for a long time. I also added back to my calls last Friday, but I'm much more weighted in puts at this time. VRX Finally broke the old resistance lines moving and staying above 18 but because I've been here for so long, I know what is possible. BK has been off the table for about a year but the PPS still reacted poorly. Need 2018 guidance and the new drugs to ramp up and take off. All that said, I still think the PPS will fall because of it's POP. However a buyout is always on the table here and I remember the 18-24 POP in the closing 15 minute day (Salix) and the 28 to 38 2 day ride (whole company, before Papa)from when we first got below 30...Even if a buyout is offered, that doesn't mean they take it and then we'd fall right back down. I also think VRX could acquire another undervalued company (PGNX, EYEG, etc) and that would probably (temporary) drop the PPS. I think VRX's future looks GREAT, but I also know my first purchases have ALWAYS allowed me to keep adding at even better prices. ER should be in a month so we will see what happens. Personally a buyout over 45 that makes my puts worthless would be fine by me too.

PS Also the H&S mentioned below by JLS happened right before our last ER. I only had calls back then as I felt we were way too low, but we still went down. It's VRX