Thursday, July 14, 2011
I've already lost 25% on RIG, but nevertheless, this stock is one of the few I own that I would buy (as opposed to hold) at $60 a share, I see 25% gains in the 1 to 2 year horizon, if not more. As a Motley Fool 5 start rated stoc, I feel even more sure of my assessment. As a John Paulsen owned stock, I feel triply sure. I see myself "cost averaging" RIG and doubling my holding in the near term.
Continucare update: Continucare (CNU), one of my larger holdings was recently tendered an offer by Metropolitan Health Networks. The stock jumped $1.50 in one day (almost 25%). Since the CEO of the company jumped at the offer, I did too and dumped all my holdings. I have found through experience, if someone wants to buy the company you own, jump at the offer. Lo and behold, I have cash in my account to buy more RIG.
Mitek update: Congratulations to Mitek Systems who recently regained their listing on NADSAQ. Their bank deposit imaging technology has not only octupled my investment in their company, but will now be more readily traded. Although about $3.00 above their year projection, the average analyst rating is "strong buy". I look forward to seeing how volume trading is affected by the stronger listing.