Keep in mind that just 5 months ago in June, SBGI hit $7.92.......and was paying 48 cents dividend then and everyone of us knew they were going to increase the dividend. That's basically $1.98 in stock price for every 12 cents in dividend which would make it $9.90 a share at 60 cents dividend if you follow my thinking. At today's low of $10.59 minus $1.00 special dividend we are at equivalent of $9.59. I believe we are getting close to a bottom, however, the overall market will also dictate movement. The market is far more uncertain than in June. Nothing has really changed in Europe and China is starting to show signs of weakness. The fiscal cliff is new and exciting negative for the market so in that scenario we could drop another 5-15% in overall market and SBGI might drop 20%. In a crash scenario, SBGI could easily hit that $7.92 again. Having said all that, one might consider averaging down at this point by starting to accumulate. If fiscal cliff gets resolved we could go up nicely very quickly. No question in my mind that at these prices one can still make 10-30% but might have to hold 6-12 months. JMVHO. DaninFW
Sentiment: Buy