The earnings announcement was great, the earnings per share was up 150% from 2004 quarter. The gross profit was 52.3% Most companies would kill for a gross profit of > 30%
Taking profits on above average volume??
Is there room for this company to keep growing? I think thats the question here. It looks like a lot of people are thinking no.
I went in at 38--sold at 33--then last 2 weeks 38 to 42 then back in one day to 38--now at 43--this stock spn will do the same---buy--on dips--
Earnings were already build into the stock price. Pure profit taking today. It had previously gapped around 20.60, and again just over 21. The low today sniffed around at the lower gap. It should fight its way back up to the high 21 area tomorrow. If it can do that, then a gradual climb from there. Don't expect any shooting star.