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The Blackstone Group L.P. Message Board

  • carolyn_novice carolyn_novice Dec 6, 2013 1:06 PM Flag

    Profit takes are stck due to bad weather BX at 28.53

    What will happen to moon landing, when profit takers return after this big run up?


    Carolyn Novice

    Sentiment: Sell

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    • Yes, big run ups are bad because they cause profit taking.

      • 1 Reply to ehpb1
      • Actually, pull backs are where profit takers step in after buyers start to disappear. Besides this stock consolidated from 10/22 to 11/25 before hitting a new 52 week high 29.48 a .75 from previous 52 week. Hardly would call this a big run ups.

        In further analyzing the chart, you will see the "run ups" were all off higher lows and from points of consolidation.

        Moreover, the relative strength indicator at 58 is on an upward trend but is still much lower than it was in the September and October highs indicating slow and steady accumulation is taking place.

        On a fundamental basis, this stock's forward PE is 10 and has been consistently beating the street all year indicating it is even cheaper if you believe it will continue to beat expectations.

        Lastly, there will be a ton of publicity in the coming months as BX continues its onslaught of IPO's, asset sales, and new ventures. My price target is 32 EOY.

        Sentiment: Buy

    • So the only people getting into work are buyers? Profit takers are snowed in?

25.53+0.47(+1.88%)Sep 30 4:01 PMEDT