Royco, Agreed. I did almost exactly the same thing (bought some more at 22.98), and will just keep trading in this range until it breaks above $25.
Well, it never hurts to have some dry powder in case the mkt pulls back, but I don't see it happening yet. FWIW, I never worry about that sort of thing. I only invest in value stocks and many of them pay a decent dividend. ATST, I keep a moderate amount of cash available just in case the mkt falls back. If there were a 10% correction, I'd probably buy my top picks on margin if I ran out of cash and the pps dropped low enough. No fear here.
Well, that sounds good to me. With the growth story and a future EPS of $1, that puts the potential value much higher than I had thought. I'll just keep adding for now.
Amigo: You're exactly right. I usually hold a core position and trade shares on the side just for fun. With HIMX I made an exception because it ran up too fast, twice, and each time I sold to capture the large quick gains. Later, I repurchased the same shares after the pullbacks. I now have a larger overall position than ever before, and I intend to keep adding on any further drops. The longer this baby stays here, the bigger I'm betting the payoff will be the next time it runs. Based on their patents and business prospects and other information, I'm guessing that the stock's intrinsic value is at least $8 and maybe more. What's your guess?
I, for one, have given up waiting on the company. I've already made a small fortune with IMOS, so now I'm just trading large blocks of shares all the time. I figure that the downside is limited, so this is just for fun and games. I suspect that at some point in the near future the stock is going to move up substantially, but I have no idea when that will be, and I no longer care. My original target was $25/share, but I long ago exceeded that target by trading it aggressively. Now, whatever gains I accumulate are just icing on the cake.
Off topic--yesterday was one of the best days I've ever had in the market. I had accumulated a lot of GE shares over the past few years because of the dividend yield, the direction management was heading, and the diversification. Yesterday's announcement by GE of the 50 billion buyback and sale of its financial services division triggered a big jump in the pps. In two days it went from about $25/share to $28.50. That doesn't sound like a big jump, but to someone holding a lot of shares it resulted in a big payday. Ironically, I had set several limit sell orders at $28.65, and the high of the day went to $28.68, which triggered all of those sells. ha ha. Sometimes it helps to be lucky.
Yes, and many of us have seen this pattern before with other stocks. I'm not sure how the MM's do it, but when a large buyer wants to accumulate, the price can be held down in a very tight trading range for a long time before being released. I've had some tremendous gains in the past by accumulating shares when a stock is doing this.
alz7: Thanks so much for recommending SPCB! I bought in after some initial DD, and today I traded it again and again as the price bounced all over the place. Made a bundle, and am looking forward to tomorrow. It's an incredible value. I figure the intrinsic value is about $12 based on earnings guidance, and trading it in this range (while building up a position for the long term) was a no-brainer. Congrats on a great pick.
I buy blocks of shares sequentially as the price falls, and then I sell them sequentially as the price rises. I had forgotten to enter a limit sell order in my wife's ROTH, and when I saw the price at $8.14, and also saw that I didn't have a limit order in place, I knew that she was holding shares bought at a lower price, so I just placed a market sell order. I had limit sell orders in place from $8.20 to $10.30 in other accounts, but of course HIMX did a crazy ivan today and the $8.20 order and those above that level never went off. I'll now buy all the way to the bottom in blocks of shares, and sell them as they rebound. I do this all the time for fun, but I also hold some core shares for target prices much higher.
The WS herd always stampedes in both directions. I almost always buy when they're selling and sell when they're buying. This is, what? the fourth cycle like this? I've made big gains on all the others, and I'll bet I make them on this cycle, too. If it goes lower tomorrow, I'll be buying more. Luckily, I sold a bunch at $8.14 just minutes before the price fell. I came home and couldn't believe it, checked the news (nothing new), and bought back all the shares at $7.35. Added more today below $7. Incredible!
I see what you mean. Thanks. Why has the price steadily declined over the last year? The PE, earnings, cash/debt ratio, BV seem good, so what are people worried about?
I'm always looking for companies like HIMX that seem undervalued based on financial fundamentals. Does anybody have any recommendations for other good companies? TIA
Jmeil: you need to read about investing because you are truly clueless. I've probably traded HIMX 50 times over the last year and I made money on every single trade, and every trade was long. Learning what, and when, to buy and sell, and having patience, are the key factors to achieving large returns.
Yeah. I got a laugh out of that post by Silly, too. FWIW, HIMX has been a great trading stock for me over the last year or so. I hold a few shares for the long term, but constantly buy and sell trading shares on the swings. I usually sell out when it gets to double digits and reload when it falls back to the $6-$7 range.