here is boring but profitable play
I am in the furniture business and know this company very well, it seems that for the last year and a half, this stock has bottomed out about a month before the furniture market, which is in april and october, then people go to market, remember what a great company this is, another record quarter is announced and stock jumps to 25-27 area, I feel this is going to happen again, company is fbn, under 10 times earnings, has been in trading range for some time, 14 record earnings quarters in a row, 15th will not be a problem, now at low end of trading range, 17 1/2 area is great entry, for boring, slow rise to 25-27 area around next earnings announcement, oh, and did i mention company just announced a 50 million dollar buyback program yesterday? very low downside, nice upside for 30 day or so play, these guys own the #1 brands in furniture industry, broyhill, lane, and thomasville, now furniture has not been a glamor industry, but they make money and someday more people will recognize the value here, in the meantime, get on board for a boring, slow ride to 25-27
(i know 30 days can seem like forever to a trader)
good luck |
