Since I don't count the takeover spike as "real", 16.62 is a new 7-yr high and in 2007 the crossing of 16.62 was on the way down.
Of course crossing 16.60 brought a selling response. Don't know whether shorts, new profit taking or both. It's just something to be expected as the price reaches further into territory not traveled in a long time. But the momo is up. Two recent presentations should help after some time delay.
Announcement of nsam registration effectiveness (next week or two per Tylis) will probable also carry declaration of spin at 6/30 with announcement of record date, which I expect will be 6/23. When issued and ex-nsam trading will begin about then. IMO, 17 before spin = a no brainer.
Longs, just let the dance play out.
This is the classic "stealth" bull market. Nothing dramatic is happening --- no particularly good news and no particularly bad news, but the upward bias on stocks is relentless. Shorts are being crushed like bugs and having to cover their positions, on all stocks, not just NRF. This is the way a bull market is supposed to work; a steady creep upward; a few cents here; a few cents there; and then you look back at the end of the year and see you're up 50%.
NRF is in the sweet spot of a sweet market.
This was an extremely nice day for longs. I bought a few more shares earlier in the week, wish I had done a lot more than that! The closer we get to the spinoff date, the more excited I'm getting about NSAM. I think I might buy up a bunch more of that as soon as it is tradeable.
If we can actually close at 16.60 or above I will be VERY impressed and will run out and start spending on something. Heading up to wine country this AM so I'm thinking a case of something delicious. I guess I'm starting to sound like "Condo" but he is no dummy. GLL
Is that wine country in CA? You live in the Bay Area like me?
If you have the money, some of the best wine in the world is Trefethen. They win international, blind competitions all the time. $60 gets a good red, and half that for a white .. can always pay more, of course, for their "library" selection. Try their "Halo" wines.
Glorious day to do so ken!
If you are passing through St. Helena I might suggest a little known boutique winery there, Charter Oak winery. Only produces reds I believe in very small batches using an OPEN barrel fermentation with juice from an old world press/process....... has won a number of awards, one for best in class for a zin (2007?) a few years back out of a blind testing of I believe 500 entries. Check them out on the web. I happen to know of them as the proprietor is an acquaintance of my wife's that she new from work. I
Enjoy the day.... !
Buy two or three cases, ken. I'm now thinking 17.00 is too low. Now I expect 17.60 before the spin.
I could be wrong (as with any prediction), but 18 before the spin is no longer a pipe dream in my mind.