Friday, September 14, 2007
A buy and a candidate...
A little late posting a buy, but at least the candidate is in near realtime.
I bought a half position in BRLC after it was just killed after reporting poor forward guidance on Wednesday. This will NOT be a long term holding, rather an intermediate trade will well determined, and well followed, stop loss, and targets. The stock does have solid fundamentals, but it is far to volatile to fit into my long term strategy. I bought in at $4.09 after watching the stock trade most of the day. I have a stop loss at $3.75 and an ultimate target of $5.05, all based on charting. (Although it is hard to really get a handle on the chart...). I will sell half of the position at $4.57, or half way to my target. Time will tell...
As for the candidate, found WDC after a Barchart Downgrade. Like the fundis, like the institutional ownership, but am a little concerned about growth rates, although the current P/E is just ridiculously low. I do like the yearing increasing margins, paying down debt, low share dilution, etc, etc. Anyways, a good set up, so I may put on a half position Monday AM, but would like to see $21.75 before adding the second half. Should give an initial stop loss just above $20.15, and an initial long term target of $27.25.
That's all for now,
Masterjaz out
I bought a half position in BRLC after it was just killed after reporting poor forward guidance on Wednesday. This will NOT be a long term holding, rather an intermediate trade will well determined, and well followed, stop loss, and targets. The stock does have solid fundamentals, but it is far to volatile to fit into my long term strategy. I bought in at $4.09 after watching the stock trade most of the day. I have a stop loss at $3.75 and an ultimate target of $5.05, all based on charting. (Although it is hard to really get a handle on the chart...). I will sell half of the position at $4.57, or half way to my target. Time will tell...
As for the candidate, found WDC after a Barchart Downgrade. Like the fundis, like the institutional ownership, but am a little concerned about growth rates, although the current P/E is just ridiculously low. I do like the yearing increasing margins, paying down debt, low share dilution, etc, etc. Anyways, a good set up, so I may put on a half position Monday AM, but would like to see $21.75 before adding the second half. Should give an initial stop loss just above $20.15, and an initial long term target of $27.25.
That's all for now,
Masterjaz out
# posted by Masterjaz Out @ 9:49 PM 
