I decided to sell my position in ACAS when the SP was $ 14.99 two days before the latest earnings announcement. Not that I did not believe in the long term potential of ACAS anymore but more because I have been burnt before (in other stocks) based on market psycology and herd mentality.
So far, so good.
Now I like to know from you serious posters ( NMB and others) what is a good moment to step in again.
What would you do if you were in my position? Wait till after next earnings announcement and see how the market reacts? Or wait till September when everybody is back from the beaches?
Your comments are highly appreciated1
Sentiment: Strong Buy
Two - three years ago I decided the banks were not going to be allowed to do business as they had before. The implication was that they wouldn't be able to take the risks and provide the funding for medium and small business that they had in the past. I decided to look at alternative financial organizations, so I loaded up on BX, KKR, and ACAS. All of my investments have doubled; BX and KKR have paid some big divies. With the announcements of further restrictions on banks, I've decided to continue to hold onto those investments; I bought some more ACAS when it dropped into the 11's. I think all of these will double over the next five years, and I expect ACAS to start paying a divie in 2015.
I've been in ACAS for a long time..the ups and some serious downs. I like management and "loaded up" twice after those precarious times..I'm way ahead at this point and expect this baby to hit $17 or $18 and over the years I expect them to reach old highs as the world economy improves...of course that's if we don't get nuked by George Zimmerman....
What has -Been not to like about ACAS since 2009 when the market was giving away shares as low as $0.59 to anyone who wanted them IN VIRTUALLY ANY QUANTITY YOU WANTED.
It was and still is the opportunity of a lifetime to those that realize the majoruty of people in the market don't have a clue about investing. -I hope you noticed --I said investing-I didn't say gambling-trading or playing for fun and/or excitement.
Oh brother, summer slump is done. I like the move. I would move back in now. You may be able to hit 12's again but I doubt it. Move in now. I thought mid 12's were great to buy into as a trade. I do my trades to get some free shares with a little cash. I am look for north of $13.70 as a starting point to consider clearing my last trade. I think this fall you will see ACAS take traction, it seams to me to have little downside risk in the BDC space. I have some long holdings of ACAS. But I do some trading. So brilliant move, I like it.
The downtrend that began in March on the weekly chart is on the verge of being broken. It's not quite clear yet, but a close above 13.50 on Fri would seem like a real good sign. To be safe, that's where I'd jump in.
Well, the train has been pulling out of the station for a few weeks now...the most recent low--$11.86 on June 24--would have been the time to jump on. I doubt if we'll see that again, unless the earnings report is a complete "train wreck" (sorry, couldn't resist.)