Tuesday, October 24, 2006
After the close 10-24-2006...
A couple of nice candidates for long term positions in well established companies:
PNM: Decent fundis, high institutional ownership, good divy, low volume, okay chart (cup or saucer, maybe a handle?), look for entry at $27.50 with initial target greater than $29.00 (highest level in 3 yrs.).
ALFA: Good fundis, low institutional ownership, good divy, low volume, great chart, low analyst coverage, look for entry at half position entry at $17.30 (50dma) with additional position at $16.65 with an initial target above $19.00 (all-time high). Tricky positioning due to the relentless upward trend over the last 3mo. The 1/2 and 1/2 positioning will protect the downside, but catch an upside move after testing the 50dma.
Note: All these stocks have low volume and may be difficult to get good prices, but given the longer term horizon for these stocks, a penny or two will not be detrimental.
PNM: Decent fundis, high institutional ownership, good divy, low volume, okay chart (cup or saucer, maybe a handle?), look for entry at $27.50 with initial target greater than $29.00 (highest level in 3 yrs.).
ALFA: Good fundis, low institutional ownership, good divy, low volume, great chart, low analyst coverage, look for entry at half position entry at $17.30 (50dma) with additional position at $16.65 with an initial target above $19.00 (all-time high). Tricky positioning due to the relentless upward trend over the last 3mo. The 1/2 and 1/2 positioning will protect the downside, but catch an upside move after testing the 50dma.
Note: All these stocks have low volume and may be difficult to get good prices, but given the longer term horizon for these stocks, a penny or two will not be detrimental.
# posted by Masterjaz Out @ 10:10 PM 
