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I mentioned briefly in another thread that I've been experimenting with stock screeners and had found two stocks that I like and have purchased. Well 5 minutes ago Jim Cramer began touting CBRL (the first stock I purchased using this method). So using the "short Cramer picks theory" that seems prevelant in this forum, should I sell on the next up-day? It's already up 4 points from my initial purchase so the profit is there but if I liked it before shouldn't I like it more now?
For anyone interested I've been picking up ETFC lately and doubled my position when it dropped below $12 today. Anyone else here think this stock has been oversold on the sub prime scare and has a lot of value at this level? I see at least a 25% upside from today's closing price. If this stock has any fundamental flaws I might be missing it would be appreciated if you pointed them out.
Jimbo
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One of my favorite Stock books is "Profits w/out Forcasting" by Leon Allen.
He describes a typical upward movement of a stock as follows: The stock starts moving up at a rate faster than that of the general market. Something favorable happens for the company. The touts all find out about the stock and start recommending it.
CBRL just had a big bump from 36 to 42. Of course, Kramer gave out the stock AFTER that bump. Thanks for nothing, Jim.
CBRL