Joined Jan 27, 2008
7,405 Blog Posts
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forget solar and get long coal… the group still in longer term uptrend and fundamentals getting stronger. Results out of ANR, WLT, are representative of rest of group. Consolidation in space will continue. Earnings power still greatly underestimated. I like MEE into earnings on Friday.
AUXL load @ 27.76
IMCL buyout aint exactly bad news for biotech.
OFI getting legs here.
ALTH going to 10 here.
Oooops I think i said that yesterday.
MA down over 20 points this morning.
Attention ZNH haters, Keep a close watch on it today.
I like CMED right here right now (bot in at 46.94). Sold my GG for a quick 50 cents — dont like the action in the metals today and the fact GG announced a $1.5B acquisition of Gold Eagle and guided lower for the year. CMED will be breaking above 48.50 soon. I also like these guys going into earnings. Last quarter, they beat by 58% and they trade at 28x EPS. 5yr EPS growth rate 39% and forward PE 19.
CMED looks great here, I highlighted in my charts post last night.
There’s one thing I’m noticing here — it might be a bigger pattern to be aware of going forward.
Given that the mkt has just taken a brick to the forehead in the last 12 months, lots of stocks are depressed.
Valuations have become attractive across many industries. Christ, XL Capital is now a single digit P/E stock (not that I would buy it). The bottom line is that the big boys have a wide array of cheap options to choose from now.
Note that after FSLR beat yesterday, the solars that ignited the next day are the low P/E peers. Stocks like SPWR aren’t getting the knee-jerk buy reaction they might’ve had a year ago.
Take ISRG, which I lost some money on recently. They keep delivering great earnings and cant get any traction. Why? High valuations. The Street has lost a lot of money in the last year. Clients are pissed off and portfolio managers are scrutinizing their investments a lot more. GARP (growth at a reasonable price) is back, baby!
The bottom line: if you have, say, 4 stocks you’re interested in buying, check their P/E’s, their growth rates, and measure this up against close peers — it may just make you reconsider your watchlist for that day in favor of more profitable alternatives).
Just my 2 cents.
-Phil
Obrigato!
I like where your heads at Phil. Keep the comments coming.
Phil, comment often, or better even – start a blog !
AUXL stop 36.25-36.50