Each time I hear something like this - an announcement or positive news being reported - the stock takes a dump ...
Just my Humble experience
As I said there will be a pullback, today Nov 1. That's when you want to go in.
I followed my strategy to the dot and got in ... maybe a bit too early. I am sure it will pay off.
Careful! I made this mistake when I sold off COP 3 month ago hoping for a lower reentry point. - It never happened.
I just bought in at $63.95. I don't think you will see the 62 range for a while.
Wait until Oct 30, that's when PSX release their Q3 data. Expect a drop since the numbers are expected to be off target. As other refiners announce their numbers this and next week, PSX will follow suit (drop), then go ahead and buy in on Nov 1st and stay long. That way you ensure buying in low AND making the ex dividend date.
At least that's my plan ...
I owned COP and sold it a few month ago thinking there would be another entry point at around $63 - I guess I was wrong. Then I got into PSX, just because the analyst's 1 year estimate (~$69) has a huge margin for growth.
To cut myself short, I would prefer to have both, PSC and COP. Short-term I see COP outpacing PSC. Long-term I see PSC catching up with COP. In another note, I do not see a dramatic pull-back for COP which would sweeten the entry point.
Things seem to change fast - this one is hot out of the press, 10/9/13:
"Here are 5 stocks added to the Zacks #5 Rank ("strong sell") List today:
Abaxis Inc. ( ABAX )
AeroCentury Corp. ( ACY )
BBVA Banco Frances S.A. (BFR )
Celadon Group, Inc. (CGI)
Companhia Energetica Minas Gerais (CIG)"
Obviously they changed their mind faster than other people their underwear ...
I do not know what the underlying fundamentals and reasons for this rating are. Maybe they know something we do not know yet.
Personally I don't care; I plan on staying long with this stock as long as they pay a regular dividend, and so far CIG has not disappointed.
Where did you see the $79 price target. Yahoo finance has 'em at $71 + change
Yap, right now it's dropping like a rock. There will be plenty entry opportunities between now and 2014. It's going to be a while until you see $45 again.
Steve, I did the same thing ... sold short to get in again later at a lower price. My reasoning: The RSI (Relative Strength Index) is close to 100 - HIGHLY OVERBOUGHT - with a temporary correction on its way. The rise since June is unsustainable in the short run.
I see this stock beyond $10 in 3 month. Reason being: CIG is totally undervalued. Once the government stops interfering with energy pricing, some pension funds will buy into it again, and the stock will approach a realistic valuation.
... and I consolidated most of my holdings in LINE a week ago - and boy am I glad I cut my losses. Personally, I have no confidence they can turn this ship around in the near future. I feel they have grown too fast ... and now they got the cancer. As I wrote earlier, when they came up with the idea piggy-backing an LLC (LNCO) on top of a MLP, they messed up big time.
Good luck with your purchase ... I see this bouncing cat at $19 by August ...
It's going to be range bound for quite some time - with little to no uptrend.
The whole trouble started when when they came up LNCO. - They simply wanted to grow too fast.
Do you know what will happen if they cut or even scrap their dividend? The same that happened to TEF; shareholders will leave the ship and within a year SAN will plunge rock bottom and potentially some other big, well capitalized bank will pick up what's left for a bargain.
Bottom line, SAN is well aware of this. Therefore they do everything to keep their shareholders happy, even little guys like you and me.
I consider SAN a long-term investment in part due to it's high dividend.
Just my 5 cents
Please note SEREPTA is research firm. The more they put into R&D at this point as well as marketing the new drug - AA will come sooner than later - and in preparation of manufacturing the drug in their new 60,000 sqft facility, the better.
This is a classical example of speed to market.
Sentiment: Strong Buy
You are going to see Linn below $20 rather than $30. I cut my losses and abandoned the ship with a good portion of Line.