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Strategies & Market Trends : Dave Gore's Trades That Make Sense
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To: Bruce A. Brotnov who wrote (11059)8/9/2002 2:44:44 PM
From: Dave Gore  Read Replies (1) of 16631
 
ACF ----- Back above $12, briefly at least. I am fascinated by this one.

Note: I posted this on Raptor's thread earlier when the stocks were at lower levels. For those that missed a quick recap of my favorite plays today and why, here's a quick recap of why I like their Reward/Risk (as a trade).

***

To:Dave Gore who wrote (2638)
From: Dave Gore Friday, Aug 9, 2002 2:08 PM
Respond to of 2639

Guys, I'd watch CCRN and ACF.

I have highlighted them on my thread. CCRN gapped down from $23 for no apparent valid reason all the way to $12 intraday yesterday. A 50% retrace would be $17.50. I am not in love with it for anything other than a trade. There are always risks in this Market.

Anyway, it has been relatively strong today. I would also keep an eye on ACF. Fitch said this morning they are comfortable with ACF and their AAA rating. The stock has tanked 78% from its high this year and $17 a couple days ago. It is now at $11.25 and need to base for awhile perhaps and panic out the rest of the nervous nellies, but it may be worth watching at least. PE is under 3 (historically it has been 10-20 over the last 5 years). Earnings the last 5 quarters have steadily climbed from .79 to 1.06 (just reported) up 35% YOY. There are delinquency concerns, but then there have been every quarter on this guy. Late last year, I heard the same thing, and it ran from $14 to $46 this spring. It is very manipulated.

I played it from $9.50 to $12.40 yesterday and am mostly watching it now. I have a modest position, just in case it ramps up next week, on analysts issuing a "Buy on Valuation".
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