Down Market Today a Gift after the Report and Buyback
PPS was hovering about 15.25 avg. Re-affirmation of guidance is neutral at worst. Buyback is worth about 6%, giving me a short term target of about $16.25 when the dust clears. Down market today, combined with post-earnings fall-off in anticipation is an excellent entry opportunity for a short term trade, imo. Could fall somewhat further, but the business is getting more and more solid.
JP and Citamar, I appreciate the insight. I am relatively inexperienced but jumped in at $6 and watched it go up to and drop from $18 to $12. I jumped in again by increasing my position ten fold at that time. I now sold most of my position after today's initial drop. I'm anticipating a bump due to the quarterly report but believe day-traders and the overall market sentiment are affecting the price. I see this as an opportunity to buy but think I am too exposed. :) Maybe I will jump in again but don't know what short-term signs to look for just yet other than the obvious overall market rally and such. Any thoughts?