<<Are you shorting JCOM also?>>
You should know better, I'm long JCOM. I short weak charts. FCN qualifies, and has returned about 15% in a matter of weeks. The chart is a classic study in a breakdown of a trendline, occuring after a break of support and a lower low was put in. Notice the huge volume also on the day eps were released and the ensuing collapse on huge vol. FCN growth fundys are called into question by virtue of estimates being lowered for the upcoming Q imo. Mo investors are bailing, and its not cheap enough for value investors. Estimates reflect slowing growth going forward of only 15%. The D accumlation rating says it all, especially in a strong market.
By the way, I'm sure you realize that FCN is somewhat counter cyclical. Their biz is best when the economy is the worst, as they provide restructuring, bankruptcy and related consulting services to distressed companies. If the economy is improving, from what I can tell, that may hurt their biz. Another example of a similar situation, EPIQ. has tanked, despite 99 eps, accumulation has collapse to D and RS 32. Why, because they provide bankruptcy softwear, and since our economy apparently has never been stronger, there is no need for that anymore <g>. |
