Thursday, October 04, 2007
Position Update: iiG
The squeeze continues.
Take a peek at LWAY (nasdaq)
They posted a "just below" rev #'s last nite, but they always miss a bit (check the chart and reaction to earning misses). And now, the best part: float is only 4.9 million shares with 17% of it short. Give it 2-3 weeks and it will be at $22+.
Forming a great daily "hammer" for those who try to bring it down in the AM today.
"Jasper, hitch up the wagon! We'z goin' fer a ride!"
At first, I thought it made sense to take some off the table, since my price objective was met.
But, after seeing this stock truck forward, I've decided to sit back and let it run.
In short, I feel a buy out is a real possibility and will not sell any more. Instead, I will buy on dips.
nyhow, short Mets (fire Willie) and long LWAY
I am hearing not until November, when they file their 10-Q.
All I know that the bull-flag from few days ago is fulyl intact. As long as 17 holds, its still a BUY in my book.
IBD may do a profile on them also -- hearing that.
They have been in the IBD 100. A profile would be sweet. Hopefully I'm back in before that happens. I'm waiting for tomorrow's jobs report before getting long any thing else.
Boy, I thought I'd made a mistake in August.
Luckily, I hardly ever look at that account.
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