The verdict is in, and the market has passed judgment. Since the presentation, Herbalife shares increased over 50%. In fact, shares are making a new 52-week high while I type and are only a few Energy Boost sales away from making a new all-time high.
Now we find George Soros has entered the room and bought a few shares, according to CNBC. By "few shares" what I mean is Herbalife is now ranked in the top three positions of the billionaire's portfolio.
Now it's time for me to shift gears once again and to advise investors to begin taking money off the table and or put in tight stops. The real remaining upside is that Ackman is forced to cover his $1 billion short position, something he claims he hasn't started to do so yet.
We all know Herbalife's stock can take the life right out of you from the kick-in-the-gut moves, and after the recent run-up, you don't want to be left outside holding the bag when Icahn and others exit.I called the bottom, and while I'm not calling this the top, the chart does appear ready to retrace some of the move. After a retracement I believe will happen, the shares will need another catalyst to push the price higher. Unless there is another Soros available to jump into the cage match, who is left to buy? At the time of publication the author had no position in any of the stocks mentioned. Follow @RobertWeinstein This article was written by an independent contributor, separate from TheStreet's regular news coverage.