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  • Jim Cramer explains his quick turnaround on Linn Energy (LINE -14.1%) after yesterday's rout: "I did like the company, but they're being examined... you can't have even examinations of accounting irregularities... accounting irregularities equals sell." As recently as June 19, Cramer had passionately defended the stock. LNCO -11%[View news story]
    Long at $38 and at $35 on LINE. Will hold as long as the dividend is paid at the same level. Considering buying more. I believe it's not more than an orchestrated Bears raid (and SEC should look into it) as well as lawyers who seek to make a buck for themselves and stirring controversies. SEC investigation might be a positive event after all and might set the score of who is right once and for all clear things up and I would be happy to see bears running to cover their positions.
    Jul 4 05:17 AM | 1 Like Like |Link to Comment
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