This is what we own:
ET 121 shares @ $24.7
GHL 151 shares $67.63
GRP 250 shares $48.8
JLG 250 shares @ $26.8
JOYG 100 shares @ $64.85
MDR 135 shares @ $51.15
NTRI 115 shares @ $48.05
STX 500 shares at $24.35
TEVA 200 shares @ $41.6
TIE 400 shares @ $41.8
TRID 436 shares @ $27.35
ET shrank further. Did anyone else notice the announcement that ET is opening in China. ET is going to be the very first global broker. More importantly, ET broke its 50 dma. One of the reasons that I so quickly jumped back in yesterday is that ET has been above its 50 dma for a year. I don't like this. Schwab, AMTD, GS. They all showed lots of weakness today. ET is showing th emost overselling, however. I am counting on strong April trading data to add some pep. If not, this could be a long couple of months
GHL dropped like a stone. It wasn't until after market close that the reason emerged - they are selling 4M shares. Great - 12% dilution. Hmmmm. The stock is also down exactly 12% since peaking at ~$75 2 weeks ago. Do you think that maybe word got out? Somebody should notify the SEC on this. Greedy bastards!
MRVL hugging $55 again. Glad we didn't get back in.
NTRI - I don't trust it. I just don't. Short ratio is plenty high. $66 is my Stop
TEVA - Up on good news. Wow. Some life at last.
TIE - RTI was up, but TIE was down. Something that I don't like: TIE keeps tapping on the door of $73 and keeps retreating. That is often the sign of consolidation and slight bearishness.
I want to stay in - all positives. They are masters of working the market and will report next week. So we wait 1 week.
Cramer mentions TIE, uh oh. That guy is a moron. He changes his tune every week. Still, at least he's positive this time.
Also, here's a quote from the news.
"Henry Hubschman, CEO of GE Commercial Aviation Services (GECAS) told the AeroClub of Washington that there is expected to be a jump in air freight thanks to "global sourcing and just-in-time inventory management." He said there are about 1,700 freighters that are growing old around the world, and about 400 of those are 35 years old or more, including DC-8s, 727s and 707s. He notes that GECAS has been "very active in this area" and has a conversion program in place.GECAS has already turned 55 older 737s, 747s and 767s into freighters and Hubschman predicts that conversions or orders for new planes will accelerate if fuel prices remain high. For example, he said the trip cost for a 737 freighter is about half that of a 727 freighter. "In short, there is a huge upside for the global aviation industry in freighter replacement," he said."
Next week, airlines start reporting. I expect positive passenger rates to translate into price hikes and new plane orders.
TRID - Up is up, but we bought at a price much higher than close, but I think that the price dropped because of Fed fears. Volume was very high, and I like that. Another analyst came in and pointed out the obvious - this stock is at least worth Zoran style multiples and should be at $34.
One more point. I completely fumbled the ball on the P/E calculations. I was off by one quarter. Current P/E is 550. NEXT quarter it drops to 55.