"The TV station operator and IBD 50 stock has been trading near multiyear highs, and analysts say that Gray Television GTN stock could rise even higher. Zacks
Equity Research said that consensus estimates have risen sharply in recent weeks, suggesting that Gray could be a “solid choice” for investors. Cable and satellite retransmission fees should raise Gray’s revenue robustly, as its Q1 retransmission revenue more than doubled year over year. Shares rose 0.9% to 15.30."
Have a great weekend!
Very smart and thoughtfull comment. Bought the break out around 15. Took a mediocre 7 % profit. Will watch it basing and reenter when appropriate.
What "volume" are you referring to? Today's? The pop two weeks ago?
Remember, 70% of the volume in GTN OR in the general market is the responsibility of "institutional investors"...the remaining 30% or so is the retail investor...you and I.
These gyrations by GTN are to be expected...it has a Beta of 1.3...
Insofar as the chart is concerned, some profit taking is also expected. There is some...but not much...support at the high $14 area. Today's close was mid-range, so that is some reassurance. GTN may just begin to form a base in here somewhere [utilizing the high 14's as support] and decline no further.
IBD has the stock rated very highly, indeed. In fact, the percentage of funds owning GTN is UP 17%. This indicator reflects the percentage change in the number of funds owning a stock (latest reported quarter) from prior quarter.
As long as the base stays within a 10% to 15% window [high to low] the stock should be O.K. Any HIGHER than normal volume [like a +40% or so] to the downside could spell trouble, so you might want to keep your stops close.
I would NOT add to any established position in GTN here. I'd wait until we see where this base takes it first...
just my $.03 worth...adjusted for inflation.
First tvs were located in bars. Today, all bars have multiple tvs. There will always be a market for tv unless the US goes Muslim. Local Tv is still popular. Like beer.
pivo...since you've asked,
1) I think that watching your stock, whatever it is---or no matter how many you own, is a full-time job.
2) Keep your eye on the doughnut---not the hole. Concentrate on what IS...not what might be in 3 years.
3) After almost 30 years of investing I have found this to the best way to invest...and the best way I know how NOT to lose your hard earned profits. Pay attention to your stock[s] because they are like children...stop watching them for one minute and YOU'RE in trouble.Stock market investing is a lot like life...it changes from one moment to the next. Those who are prepared, survive to invest another day. Those not prepared, get left holding the bag.
4) "Wishin' and hopin' and thinkin' and prayin', plannin' and dreamin'" about what could be, might be or should be is a game you should avoid...it just wastes valuable time.
Lastly, the market doesn't give a damn what you think or what you want. It does what it does...
Hope this helps.
Just my $.03 worth...adjusted for inflation
I have been a subscriber to IBD since 1986. I agree that their stock listings, stock charts and their "Stock Check Up" makes the price of an eIBD subscription difficult to top for the price.
I am not as sanguine as you, particularly short term price. Since April 17th, when the MFI indicator was "76" the money flow has declined rather dramatically to today's "35.7". It was as high as the mid "90's" from March 6th thru the 25th.
As long as it continues to drift in the current basing patter and does NOT break support [the mid-to low $13 area] and does NOT correct more than 10% or 15%, you should be o.k.
You may be correct on your assumptions, but since you've already made your purchase, I'd keep my stops close...just in case.
Great IBD number and great charts combined & made me buy this stock today. Besides that I really don't know much else but fortunately I see many informative posts here of which I have already read many.
Of course an upside breakout in the weekly chart is what I am hoping for! Thank you all and best of luck.
so........what the heck is with gtn? is gtn a winning long term bet......or is gtn a fools game? All I know is that they are spending a lot of cash to aquire stations nationwide. What are the prospects???