Just read the news from the wires and put in a buy order at 16.4 a few minutes back. Looks like it got filled.
Put that order in when I saw this paragraph on the news :
“Our rationale for this draw-down was echoed by Rodney Clark, a credit analyst at Standard & Poor’s in New York. Regarding Triad Guaranty’s draw down, he was quoted in Bloomberg News as stating, ‘There’s a presumption in the market that these draws on credit are an act of desperation. I think they’re actually proof that they do have access and liquidity. We don’t see anything that might be a major liquidity crunch [for Triad].'”
Sounds very positive after the company reiterates it too…right?
Buy it any where below that $17 mark or nothing wrong in paying may be a quick quarter more .
This is a trade and I’m buying on any small dip here again.
The news out of the wires was from the company is here:
Mortgage insurance company Triad Guaranty Inc (TGIC.O) said its borrowing of $80 million under a revolving line of credit was not in response to any liquidity issues.
Responding to the decline in its stock price since Monday, when the borrowing was announced, Triad said it had $26.7 million of cash on hand at June 30 and that the proceeds of the loan were being invested in short-term instruments.
The stock price had declined 32.5 percent in the subsequent two days of trading following the announcement, the company said in a statement.
33% in two days…now look for atleast a 15-20% bounce from these levels very fast. Moreover, is that 32.5% equal to this 20%?? No right? So, may be we can get much more than that.
GET LONG TRIAD. ALL ABOARD.
My first reco in financial sector after the turmoil began.
We recommended Macy’s on August 29th, 2007 afternoon. It was trading around 30.60-30.80 then.
Latest ticker reports Macy’s trading around $32 almost 4% above the reco.
We shook off some bad news from Sears and Chico’s from the retail sector yesterday. That would have been a sweet spot to buy too.
Our position is at $30.74.
On the technicals we just moved into the positive territory. Have more and more o go intot he positive. We are staying long. We are not taking profits at 5% on this one. Waiting for that 10%.
You may take profits as usual 😉 Enjaaaay the long weekend !
Fitch Rates Macy’s New $350MM Notes ‘BBB’ Outlook Negative
The rating reflects Macy’s size and geographic scope as the largest department store operator in the U.S. with over 850 stores in 45 states, successful private-brand initiative and good cash flow generation. Also considered are challenging sales trends and an aggressive financial strategy.
That sounds kindaa positive !!! Isn’t it?
BUY BUY BUY. It has even more upside after today’s!!!
Now trading at $31.06. There will be some profit taking after that run today. We’ll close just an inch lower than the highs and you get in then. Get in any where around $31 – $31.5. Buy INTO THE CLOSE. Lets get an upgrade. We are trading to0 cheap now.
This is the chart. How appealing is that!!!! Too oversold and a good news and good comments!!! That’s what boosts stocks to upside.
yya that’s what I understood from today’s release!!!
The outcome of the meeting was that the feds think the world is not ending soon. But, isn’t the world already drowing???!!! It is clear that they are on far higher lands. And they won’t take any action unless they could see the water levels rising.
Fed also asked us not to panic!!!!
I say don’t buy stocks until FED panics which is inevitable at this pace. They are going to come out one day and say looks like we have to cut the rates, after all, to save the world. Buy some stock that morning. Until then it’s going to be the same old story, people trying to catch the bottoms and getting burned!
They said they were ready to cut the rates, if needed!!!! That means, THEY WILL.
There’s nothing wrong to be on the sidelines and watch the market bottom. Lookout we are going to test that 12700 again! Go short if you don’t want to miss the adventure.
I don’t want to say this BUT looks like US is going into the ‘R word’.
Note: We don’t mean to ask you to sell and liquidate your positions. That’s never good.
R word – recession 😦
Nucor : Recommended at around : $51
Current price : $55.02
That’s the weekly chart WOW!!!!!
Profit % —> 8% Take some profits 😀
It’s been a wild and scary month. But we hold on to our picks…and that pays off.
WMS keeps itself standing out nearing its 10% gain in a few sessions. Take profits at 10% tooooo 😉
WMS is up 9% from reco.
Take profits at 10% 😉 It’s going above 30 😀
Nucor Corporation – our other pick!!!
What did people say about commodities….they shouted at us for recommending NUE !!! Many said materials have not yet bottomed. We said may be but NUE is down too much. We got two upgrades this week for NUE and today Merill Lynch says, That’s it materials GO UP FROM HERE ….We love that.
NUE is now riding up about 4% from our reco. Though we accept we were just a bit early. We were early by a week. (aah we do remember that Thursday week 😦 ) But we have been repeatedly saying “Panic never pays. Patience pays” The results are here for this WILD and CRAZY ride. We are going to $60. Take profits at $55.50 and $59. If we break the 200 day MA it goes higher…other wise we come out completely. That’s the ride!!!
Keep in touch,