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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (29468)	12/28/2007 4:54:50 PM
From: SI Bob	Respond to of 78429

Re: [t]WPL[/t] As did I yesterday, and I also put my neck pretty squarely on the block in my trading account today, but kept some funds available to average down pretty seriously Monday if the opportunity arises. Getting down to here is really pretty much just in keeping with the normal ebb and flow of this stock lately and I think that it's gotten down to here ($4.79 close revised to $4.86 less than a minute later, and currently $4.90 in AH) solely because tax-loss selling happened during a normal flowing out of the tide. It's been strongly range-bound for about 2 months, but if one is willing to wait several days between trades, it's been a very tradeable stock, with 10-15% possible each time. The last time I sold it I tried to turn around and go short but couldn't. I don't know if I just couldn't get a borrow or what. If anyone's reading this and considering trading it (arguably a good move if you trade contrary to my positions) to get those semi-reliable 10% gains occasionally, be forewarned that this stock epitomizes the old joke that has the punchline "Sell it to who? You've been the only buyer." The volume is pretty thin on it. I don't normally trade stocks whose volume I don't think is high enough for me to "hide" in, but this one's been worth it to me. Like me, I suspect this is one of the cheapest stocks you go anywhere near. I'd be curious to hear your take on [t]FMT[/t], which I trade and have invested in, and is even cheaper. It got beaten with the rest of the companies involved in subprime (and they were knee-deep in it), but have the advantage of having sold off that business early. They've done two 50% upward climb days in the past couple of months (~20% pullback after the first one -- the latter just happened a few days ago). Currently $3.89, traded below $2.00 in early November, and were mid $16's a year ago. And spiked from $7 to about $13 in the last half of May. Before the subprime mess, it was a tradeable, dividend-paying $20-24 stock. I don't think it's a $24 stock, since it got there largely on the back of subprime, but I also don't think it's a $4 stock.

To: E_K_S who wrote (29468)	12/28/2007 11:31:22 PM
From: Jurgis Bekepuris	Respond to of 78429

Hmm, their 3rd quarter report looks ugly. They are losing money and they are still losing assets, and of course fees are dropping. :( I would think this is too risky to invest into. :/ Since we are talking about asset managers, do you or anyone else have opinion about [t]PZN[/t]? Pzena went public at ~$18 this year and by now is down to $11. I guess they are also losing a bit of assets. Financial reports are still very much tough to read with recent IPO and disbursement to previous owners, but the table in this article may give at least some idea regarding valuation: online.barrons.com

To: E_K_S who wrote (29468)	12/31/2007 12:21:16 PM
From: SI Bob	Respond to of 78429

Full allotment of [t]WPL[/t] in my long-term account and over-weight in my trading account today, most of those shares intended for a 2-4 week trade.

To: E_K_S who wrote (29468)	1/14/2008 10:23:28 AM
From: SI Bob	Respond to of 78429

Still holding onto my [t]WPL[/t] but have slowed my buying. It keeps gravitating toward $5 but really has a lot of trouble reaching it and especially holding onto it when it gets above it. Not optimistic that today's the day it breaks above $5 for good (though I think it'll be within the next few weeks). Up quite a bit, but when the Ask became $5, there were 4900 shares offered. When the volume for the day at this point is just 12k. I've taken advantage of 10-cent swings sub-5 but not very often and am becoming less inclined to do so, as I don't want to be too light on it when/if it establishes $5 as a new floor.