5.91% and counting ...
Loius Navellier recommended in his Blue Chip Newsletter to sell PAYX, since it no longer meets his risk/reward model criteria. The contrarian in me says I timed this one PERFECT :o)
MACD crossover today! Volume at end of day kicked it over; at the same time the volume was spurred on by the realization this was about to occur. Emotions ran the show today, it's quite clear to me volume and price will be picking up (fund managers have probably already have bought their shares by now).
I'm trading this one, it's not a love thing for me. I know the company name well, my buddy has his payroll done by the company, and I get feedback they are a well run company. OK with me, but it's more the technicals I'm basing my decisions on.
I think the comment I'm guessing that this is the bottom is very true. But, we're all guessing each and every time we make an investment decision. Buying on the uptrend may be some persons approach, buying on the dips may be anothers, bottom fishing anothers, and the fact of the matter is that they are all guesses, each and every one of them.
My philosophy is to work with HIGH QUALITY companies, companies that exhibit high earnings & revenue growth, have reasonable debt, high profit margins, exhibit leadership in the field, and have been technically altered in such a way that I can squeeze them for a couple bucks. PAYX is exactly that, that is why I'm here. Yes, it's a guess ... none the less, see y'all at $35-36 soon enough :o)
Regards, JB
edit: I'd be remiss if I didn't mention that MACD crossed over today on almost DOUBLE daily volume. |
