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Corrections Corporation of America Message Board

  • guywithbaldspot guywithbaldspot May 23, 2006 6:33 AM Flag

    Just Thought I'd Check In...

    since I haven't been here in forever. Good to see the General, nic, and some of the irregular regulars still posting.

    It looks like we've broken through that $50 resistance level for good. I last bought some shares at $36 about 1 1/2 years ago so a $24 gain is looking pretty good.

    Of course, as a LONG time owner of CXW (I've owned PZN when it was a REIT and then CCA and went through the 1:10 reverse split), I'm pretty sure that I'll need CXW to hit $150 before I'm actually ahead. But at least we're 1/3 of the way there and look like we're headed in the right direction.

    At this point, I'm just glad that I kept the faith and didn't sell all of my shares when they were under $1.00.

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    • hemorhoidal barflies are that cats meow.

    • You should now be ahead of the game if you add back the settlement money from a couple of years ago.....assuming you filled out the forms....

    • Nice to hear from you, again, g_w_b_s. The General notes your comment, to wit:

      << It looks like we've broken through that $50 resistance level for good. >>

      It's certainly good that CXW's climbed to its current altitude level, but the General is eyeing that $1.22 gap-up that it's left in its wake, back about 3 weeks ago (5/02's i-d h of $44.39 and 5/03's i-d l of $45.61) and readers here know the Gen'ral's 'theme song' about "gaps."

      Nothing's a certainty in the stock market, but the General's still expecting a "tidying up" revisitation at some time in the future. The previous 'housekeeping chore' took 3 months to occur.

      • 1 Reply to GenJackripper
      • General,

        While it's very true that "Nothing's a certainty in the stock market," I'm very bullish on CXW's current price ($51+) not only staying above $50, but steadily climbing. I don't think we'll get the same gains we've seen in the last 1 1/2 years or so, but do believe that smaller up ticks will continue.

        Fergie has done a great job IMO. Long term debt keeps coming own, and those pesky various charges are becoming the exception rather than the rule they used to be.

        I can't remember the last time we had to suffer though a facility not opening due to porcelain toilets story, which, of course, is another good thing.

        So while I don't want to count my unoccupied beds before they're occupied, I do see CXW continuing its move in the right direction.

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