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I know how you trade Ira and just as you appreciate that my methods work
for me, I'm sure yours work for you. I don't chase a bad stock down
but if I fully understand the fundamentals of the company and if I feel
most of the market doesn't understand them, I'll lower my cost basis as
much as possible until earnings show what I already know. I'm
trading this one a bit .. picking up a grand here and there but it's
mostly a hold until the hurricanes fire up over the gulf. I just
can't see it going as low as you talked about, ($25) .. it has a PE of
8.6 now. The CEO made a huge purchase in the open market at around
$30 and I'm going to "bet" with him.
It bothers me you're on the other side of this one but I've been at this
for 35 years and I believe in my style just as you do in yours.
All best,
Bob
At 03:59 PM 6/8/2006 -0700, you wrote:
Bob:
I never understood averaging in. It
obviously works for you. I have had a sell on this stock for a
while now. I posted what I thought earlier and it appears to be
following that track.
I very seldom, if ever, catch a low or sell a
high. My motto has always been, "prove to me that you are
going higher/lower and then I will put up my money".
I look at fundamentals at times, but my system
is a follow the money, price based system. Obviously your system
works for you as you have been at it for a while and your calls have been
very good over time.
I wish you luck with your trade. I would
need some price acton to tell me that it is going higher rather then
fundamentals. I will continue to watch this one. Ira.
----- Original Message -----
- From: BobsKC
- To:
realtraders@xxxxxxxxxxxxxxx
- Sent: Thursday, June 08, 2006 2:46 PM
- Subject: [RT] CHK update
- I bought 2K more of this at $27.90 today after Prudential lowered next year
- earnings by a few cents and some analyst that I've never heard of put a
- sell on it based on the charts but no fundamentals. I sold 1K at 29.30
- near the close and am now holding 5K. It's as if the Prudential guy
- doesn't know they sold 70% of the next two year's production at $10 and is
- basing his earnings on the spot price instead. Anyway, my cost basis keeps
- dropping and my confidence in the firm is undaunted.
- Hope everyone here is having a good week with all the volatility.
- Bob
- oh.. nice call on the market today Ben .. you did well I would imagine.
- No virus found in this incoming message.
- Checked by AVG Free Edition.
- Version: 7.1.394 / Virus Database: 268.8.3/358 - Release Date: 6/7/06
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