Spotlight Stock: Graham Corp (GHM)

Mon Jul 14, 2008 5:01pm EST 2

[[GHM]] @ $80.07 was one of the stocks that I mentioned on last nights post.

I was looking to buy it today, but never got around to it due to the all consuming [[FNM]] mortgage bingo / lotto game and financial stock meltdown (again).

Lo and behold, GHM took the elevator up almost 10% today.

I will look to buy this animal on a pullback.

GHM is one of those boring industrial companies that makes shit that causes people to roll their eyes and fall asleep at the wheel. Stuff like steam jet ejector vacuum systems, liquid ring vacuum pumps and compressors, and oil-sealed rotary vane pumps. How about surface condensers for steam turbines? Yeah. I need to get me one of those.

Does anybody know WTF this shit is? (Besides you engineers out there).

Actually, it’s products are sold in a variety of industries including, oil refining, chemical, petrochemical, power, heat transfer processes and shipbuilding.

Fuck the iPhone, solar panels and PicoP projectors.

You need to get you a Wham-O Vacuum Sealed Pump Cleaning Turbine Condenser, or whatever the shit that thing is.

Disclaimer: This information is not intended to be used as the primary basis of investment decisions. Because of individual investors requirements, it should not be construed as advice designed to meet the particular investment needs of any investor. Consult your financial prior to taking any actions. The information and opinions contained here are those of the author and are not necessarily the same as those of iBankCoin, its principals or its affiliates. Trade at your own risk.

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Sold FNM @ $10.09

Mon Jul 14, 2008 1:01pm EST Comments Off on Sold FNM @ $10.09

All out 12:25 ET.

I don’t like how this has developed since the opening.

[[FNM]] is too difficult to analize [sic] at this time. Sure, it won’t be allowed to fail, but at what cost to common stock holders?

Back during the depression of the 1930’s, when the govt took over the banks, shareholders equity was wiped out.

Welcome to the new century. [[FNM]] and [[FRE]] might be headed down the same path now that Hank has shown us his cards. Essentially he made the right choice, but the result now appears to be less certain….. So I got out. One always has to keep re-evaluating the info available and act accordingly.

I’m just happy to get out with a tidy profit. If [[FNM]] and [[FRE]] rocket up from here, I will personally send Hank a congratulatory note with a set of steak knives.

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Sold FNM @ $13.24 at the Open

Mon Jul 14, 2008 9:55am EST 7

The gap up this morning was just too tempting to ignore. I sold the original shares with the $13.01 basis, thus cutting my exposure in half.

The remaining shares of [[FNM]] I hold, have a basis of $7.11

I will not lose money on this. I just will not put up with that.

Comments »

Get the List Together

Mon Jul 14, 2008 12:16am EST 11

Now that Hank and the Cavalry have come to the rescue of [[FNM]] $10.25 and [[FRE]] $7.75, we should see the market rally, much to the chagrin of the bears. And, because “da bears” so overjoyously kept adding to their short positions, like drunken sailors, it is possible that we could see a “mother” of all short covering rallies, so to speak.

As you know, it is Mr. Market’s job to embarrass and befuddled as many market participants as possible, so as to humble those who are wise in their own eyes. That includes you and me.

With all of the news piercing every corner of our brains, now, more than ever, is the time to focus on whatever flavor of technical analysis you prefer. You and I can’t possibly process all the news from CNBC and a papparazzi [sic], nor would we want to.

Even before Hank issued the edict, my indicators were pointing to some kind of bounce, as the market sentiment indicators were extremely oversold. I thought we would see the rally last week. But no, The PPT had to wait until this weekend, just to embarrass the bears and naysayers even more.

Market sentiment indicates now that downward momentum has fizzled. Broader market indicators looked stronger on Friday than Monday of last week, despite the Dow fuckery. Yes, a divergence.

Don’t put all your focus on the Dow. You’re going to miss what’s about to happen. This is still a stockpickers market. The broader market is consolidating for the next move, which looks like it’s going to be up.

We have reached an inflection point as of Friday, as we should see the market rally this week. All this was showing up before Hank and The PPT‘s “mortgage backstop” bingo party this weekend.

If I were you, here are some names that I’d look to:

[[GHM]] $80.07, [[CLF]] $109.41, [[POT]] $221.38, [[QCOM]] $48.33, [[NOV]] $83.12, [[FLIR]] $42.55, [[MEE]] $83.11, [[CF]] $159.05, [[MCF]] $92.15….

I’d also start to take the short hedges off the table. If tomorrow is up big, I’ll send the offense back on the field. More on that after tomorrow.

….WIP