Hi me again... must get that cash down to 7% so watch this one folks!!! EBIX is a great company that serves the INSURANCE industry with tech stuff. They have most of the accounts. They are a very strong growth stock and an IBD darling! You know what happens to those names.... Well I eagerly awaited earnings yesterday which were good but included a 50% rise in costs... the stock actualy opened up! And then was consumed with selling that then became exasperated I'm not sure that's the right word... the sell off increased as 2:00 big boy selling hit the market and then again today as Yahoo Finance types flee the name based on vol surge.... Folks THIS IS A COMPANY WITH 40% MARGINS! Alright yesterday this name peaked @$28.20 ticking up from the open of $27.80 then down to $25.00 and then down again to $23.00... That's close enough to my buy zone ($22.75) so with some added info from the hedge fund I'm In! What is that info?- Insider selling TODAY (live info folks) as converts convert to equity creating tax liabilities... not exactly sure what that means but I got this next part: " we like the name and expect this to pass quickly." Ok Two names, ASYS & EBIX; one a this week earnings play on solar growth and the other a just past earnings catch on the plunge of a super high quality tech name... All of this did not happen overnight folks. Each morning at 5:30 I cull my watch list and narrow my ideas down to the very best ones for me... 4 names usually and then still the market has to help create the prices which it just has... That is two lessons in using The Market To Your Advantage. ~stoney
Up a grand here in a few hours you day traders that surf my coattails can take that. I'm looking for much more.~stoney plus $1,000.
Something doesn't pas the smell test here and I don't mean my feet. This position is only up $2 when it is the type of stock that should be up much more. Sold @ $25.00. ~stoney