Looks like tax selling is finally abated.
Based on recent price action, it looks as though tax selling pressure has abated somewhat, and institutional buying was picking up "bargain" shares. Late today the stock eased off after touching 18.
It will be interesting to read the next earnings report and 10Q. The last earnings report was released on Octber 23 (for the Sep Q). In their conference call, they discussed the sign-up of banks and how that business was growing, the portfolio reporting relationship they have established with AmEx Financial Direct, and their pilot program for electronic billing services for BellSouth, SBA, and Capstead Mortgage. The Motley Fool archives contain a write-up on the call:
fool.com
So in next two-three weeks, we could see a move up powered by traders moving in ahead of the report, playing on hte probability of favorable news on one or more of these fronts.
Meanwhile, I'm in with the shares I wanted, with the prices I wanted, so I will be patient and wait. I'm a LT investor, and I'm hoping to get a long run out of this stock.
Paul |
