We can see on the chart that IEP has been building a base around $53 and is holding in a relatively tight range, IEP is a conglomerate company with a focus on M+A, takeovers, LBO's and more. Their PE Ratio is under 5, and you get paid 11.5% to wait for this one to pop. Never a bad thing. Furthermore, this stock usually outperforms the market in times of extreme pullbacks and the company has a short ratio of 130% in their investment business, if the overall market turns around they should be well positioned with a cash to debt ratio of 4x. They are well positioned should the market pull back and they will be ready to deploy a ton of cash once prices become cheap.