Looking at the trading pattern (large sweeping trades up 3/4-1 point, then a trickle small trades back down 1/4 to 1/2 point) over the past few days, someone BIG is either accumulating shares, or they are trying to make the chart look good.
Part of the overall massacure of Financials, nothing fundamental. McDonald & Co. analysts favorite stock. Her last one was cincinatti financial, and you know what that did. This is the time to buy if you don't own it or add to positions. This is called a 33% off SALE! Don't understand why people buy when prices are high and stay away when on sale.
I think the basic problem is that this is not a glamour stock--just a solid company going about its business with no fanfare---therefore little notice in the "market".Those who have studied the company have issued "buy" recommendations. Note under the "insider" section that one of their seniior officers just bought stock on the open market; this is a vote. He probably sees it as undervalued as well.
I sure wish more would care about this stock. The last message was 8/11/98 and that message said nothing. I don't know what is happening. Their numbers still look good with average shares traded per day at about 225K. As I recall there was one day in the last few weeks when the volume was at about 750K. I sure would like to know if the company buy back plan is part of this slide or just who is selling to get out and why. Talk it up. Maybe Mr Zucarro reads this stuff and can leave some inside info.
All the other companies I own have conversation on their message boards. This one has twenty statements and until July first I had made the last comment- over a month ago! We must be a laid back bunch..