After a wreck of an earnings report, CHCI took a whammy that I didn't expect. I did think that their earnings would be dismal, but the size of the move afterwards surprised me. It was a SNAFU on my part to not warn everybody to wait until after earnings (or that they were reporting in the first place). I assume nobody took a position yet as I haven't gotten any hate mail (hah), but now is the time to get in. As a side note- I made a checklist for myself to go over before I recommend any new stock.
A long term position like this should be scaled into, unlike a trade, where you need an "all or nothing" attitude. If you have faith in CHCI, scale into this stock slowly and stop watching its daily movements because this is not a trade. All is well that ends well, and I have no doubt that CHCI will end well. With that said, my long term view holds true, we may have to wait for a catalyst for this little guy, but it will come in time.
I was snooping around MSN's finance page and found that Thomas Ko, the winner of CNBC's stock trading contest, has CHCI in his Strategy Lab portfolio.
(Full disclosure: I bought shares of CHCI on 08/08/06)
*Edit* I probably should say that the Fed decided to pause today, and the market went down on the news. Bad Omen?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment