I bought TEX at $10.35, and now it is trading at $21.10.
I hope you bought some shares back when I originally recommended it. :-) Actually, I still rate it a buy. The reasons why I still like it are simple: First, the stock is being upgraded all over the place. It has been upgraded by four investment firms in the last 3 weeks. Second, Terex far exceeded expectations last quarter moving it back to profitability and making its forward earnings a lot more positive looking. Third, Caterpillar just beat expectations. I expect Terex to follow suit. Fourth, and finally, Terex is expected to earn $1.66 for 2012. If you put a P/E of 15 on that, you have a $25.00 stock. It's trading sub-$22 right now. Assuming those earnings and that P/E, this stock has another 20% to run.
Wow, look at TEX roar today! My two-bagger could have been a three-bagger if I didn't sell already! Hahaha!... Well, the economy has been coming back so strong I've made decent money doing other things with my TEX profits, so it's not too bad.
I just sold half of my position this morning at $22.94, which I bought at $10.35, to lock in a 121.7% gain before commissions and taxes.
That's a nice 3 month return, no? :-D
If earnings disappoint and the stock falls back into the high teens I'll rebuy back the other half of my position, if earnings are in line, then I'll let the other half of my position ride to a 150%+ gain before I fully close it out. However, if earnings really blow away expectations, like Caterpillar's did, which would really crunch down the P/E ratio, then I'll hold to almost a 200% return on the other half of my position before I completely close it out.
Hey thanks for the 'congrats'. Of course, it is nice to get big returns like that. Every now and then, the market just pummels a stock down so hard that it finds itself trading at just a few times forward earnings and you have to buy it. When I saw TEX fall from the high 30s to the high 20s, then the low 20s, then the high teens, then the low teens, I just thought to myself, "this company is almost always profitable, and forward earnings haven't been revised down that much, what's going on here?" Then as it continued to fall from the teens down to ten bucks, I had to buy as many shares as I could.
Thanks again for the 'congrats'... I knew I wasn't going to get one from Love/Hate... It's too bad; I come back to this board from vacation after being gone for two weeks and he goes right back to one-staring my posts. Well, maybe he thinks 'one star' is the best rating and 'five stars' is the lowest rating, because most of my posts have been correct and been very profitable (including this 105% gain), and meanwhile he is upside down almost 50% on MSO. So maybe all the one-starring he's been doing is his way of tipping his hat to me. :-)