GOING DOWN as the bashers say!!! Just look at the volume, just over a million today! Everyone knows that Fridays are famous for the big dump before the week end if things look bad for a company. The latest run up to 36.60+ is holding strong, and this will be @37.50+ in 2 weeks time. And this stock has been upgraded to Out Perform and a Buy!!!
Yesterday I suggested FMD @ $21.50 for an option to owning too much PAYX. It is now $25.60. I sold some ELN to trade some FMD and bought back my ELN @ $8.65, now ELN is $8.95.
In the meantime, PAYX flounders. Do you realize that PAYX is down since 12-03? And PAYX has a high PE. If they stumble (if they even tell you), the stock will get crushed.
I just don't find PAYX compelling. Personally, I would sell it. Not that it is a bad company (although I do wonder), but the opportunity cost of owning PAYX is too high.
I suspect I will double my money again before you pass $40, but who knows? A month ago I did doubt that you would even gain $0.10 cents before ELN doubled, but I MIGHT have been wrong.
Of course, there are other interesting stocks like MTEX ($11.50) or FMD as I mentioned yesterday (look at the financials compared to PAYX) but some are blindly in love with PAYX.
I think you'd be better off buying mutual funds. Vanguard Pacific Equity and Vanguard Precious Metals and Emerging Markets are good. I recently bought into all three. I have been diversifying from my Vanguard Healthcare fund sicne I already am trading a lot with ELN.
I'll let you know how they perform compared to PAYX. But I know . . . interest rates are going up and that will help PAYX earnings (but only slightly).