by: Magaritaville45 1/25/00 6:17 pm
For those of you that may be interested, here are a few of my comments on today?s News and Action (if you?re not interested, just hit Next):
1. News is excellent! As CTC continues rapid expansion their need for credit will increase. This is not just for financing their expansion, but also for higher account receivable from their customer base. I thought CTC expansion Southward into the DC area is great. The Chairman, Bob Fabbricatore?s comment, ?As a starting point?? is a very telltale sign that this is just another step in their plans to fully cover the Country. I think their approach is more prudent than some of their competitors who are shotgunning the whole Country which is very costly.
2. Timing of News is also interesting. Why today and not Thursday when they make their Quarterly Announcements? I really don?t know the answer, but is this PR?s plan of rolling out numerous announcements? Or did this news need to go out in prelude to something more pertinent to happen in the next few days? Either way, I feel we are in for a stream of very good news.
3. Three Analysts raised their target on CTC one week before earnings are to be released. Why? One can only hypothesize that good news is about to happen.
4. Scott Stringfellow: They?re entitled to make money. Let?s not be harsh on them. They?ve done well for their customers and well for us (Longs)
5. Technical Analysis. My amateur opinion is that this run started at $39 and hit a high yesterday of $58 ó. A 50% retracement would bring us back to $49. We traded at $50 ó today which is a 41% retracement. I might be going out on a limb, BUT IMHO we saw the bottom today. The stock started to gain positive momentum towards the end of the day. Based on Point & Figure charting, a trade at $54 will indicate a positive swing that will not stop until CTC trades in the $66 to $72 range.
Good Luck to All |
