It looks like EAGL stock has been in a downtrend for about 6 months. During this time, the company has continued to beat analysts estimates. When you purchased the stock, the PE was much higher than today, but sentiment was more positive. I actually believe that we've put in a nice bottom over the past few weeks, and that we're headed up again. Recently, I've purchased lots of stock in the 17 range and calls when we dipped below 17.
With today's market action, EAGL's current strength will be tested. As I write this, the Dow is down 78, the Nasdaq comp is down 27, and EAGL is unchanged. Of course, part if this is due to the fact that EAGL shouldn't be adversely affected by the turmoil in Asia.
On of the reasons I decided to get back into EAGL after getting out over 6 months ago was that I believe the Asian situation will actually help EAGL by raising their margins on imported products.
As you can tell, I'm quite bullish on EAGL at these levels, and my account reflects that fact. I'm not one to try and convince people to make investment decisions, but I'd hate to see you sell near the bottom.
Good luck,
Mike |
