Burg...btw...:o)
PIN : NYSE
AMF Bowling, has been exhibiting the signs we're looking for on the TA side. It's been running up for about 2 weeks off it's 52 week low at better than 1/8 point/day. Not sure where it's gonna run outta gas, since it's in the heady realm of pegged stochastics (100%). Definitely a few days late to this party. Trenders look great, with many underlying indicators eclipsing at least the 2nd preceding peak of $6. This run didn't even really blink at the last peak of 5 1/8.
Earnings were due out yesterday, the 26th. Hopefully they'll be after the bell, to afford an opportunity to buy some. PIN has just become marginable the last few days, also.
I remember reading the glowing reviews about the new dawning age of bowling. Kinda make sense. It fits in w/the new ages of Pro Wrestling and NASCAR...;o) I haven't had time to dissect the fundies, but it looks like a majority of the rising losses was due to a debt restructuring. Revenues are running steadily upward also.
On the downside I noticed a mention of competition in Asia. There is also a fairly strong body of shorts, 1.5M; OS/Float stands at 60M/9M. I wouldn't go so far as to say we're breaking the 2 year running downtrend, but it's a good start. The Yahoo board is seriosly bearish, noting many, apparently, damning local management issues which are driving away customers and valuable employees. It doesn't necessarily jibe w/the rising revenues.
I'm getting in today, buy limt @ 5 5/8 with a conservative target of $5 7/8 - 6 in a day or two, for a sell limit or stop loss. My exit will depend in part on the release of earnings. Any delay therein, should give the price some more room to run up. I was fairly bullish, but the Yahoos have made me wary of the LT outlook. CYA on this one quickly w/a stop loss. |
