Tuesday, October 09, 2007
Tuesday downgrade buy...
Placed a trade Tuesday after a multiply downgraded stock found some support and the fundamentals supported a buy. MCHP is the stock and it dropped >10% due to weak guidance and two downgrades (to neutral...). The fundamentals are sound, growing sales, growing net income, EPS, no debt, slight share dilution, growing margins (likely to retract some...), and a very nice divy to boot (also provides yield support).
Bought half position at ~$32 with the possibility of adding at $31 if it goes that low. The chart looks okay, not great...
For now,
Masterjaz out
Bought half position at ~$32 with the possibility of adding at $31 if it goes that low. The chart looks okay, not great...
For now,
Masterjaz out
# posted by Masterjaz Out @ 3:38 PM 
Comments:
<< Home
Yes MCHP is a good company. Any opinions on the convertible debenture they just issued. Looks like smoke and mirrors. A little disappointing.
Post a Comment
<< Home
