Thursday, April 05, 2007
Quick Update
I've (finally) taken a position in CompuCredit (CCRT) in the Trading Portfolio at 33.20. I suppose this is not really the greatest price, as CCRT was trading in the mid to high 20's just a couple of weeks ago. But, catching a real bottom is so rare. Anyway, this stock idea pretty much came from both No-Limp and Gaamblor. And, it does not hurt that Tom Brown's bullish view is backed by some positive data points.
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2 comments:
though I'm long this as you know I think there will be a better entry point... but i'm usually wrong about that
The stock is bumping up against some resistence right here from the 200 day MA and the breakdown from 35, but I'm convinced that the stock is worth at least $47 right now with earnings, buybacks and portfolio acquisitions only adding to that price. This is a classic class of getting to buy an undervalued stock because of nothing but irrational fear. The key development that put a floor on the stock was the masterful buyback of ~3 million shares.
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