Damn SingNet connection has been giving me big problems recently. Lost my internet connection back at home and apparently SingNet couldn't find out what's the problem. I'll only be able to update on our portfolio once they got it resolved.
Meanwhile, it seems like we have been pretty lucky for the past week. If you have been following my trades, we would have taken profit on MGM Resorts International before the stock tumbled due to the disappointing result expectation.
The rest of our current portfolio seems to be doing ok. Iron Mountain is slowly climbing back since 5 Oct 2010. The company stock is now trading around $21.50 for a paper profit of about 3.8%. I've managed to enter Quiksilver Inc at the price of $4.16 and this counter is sitting comfortably at $4.38 now. Rick's Cabaret is also doing well at $7.49 now. That's about 7% in the money for us. Ezra Holdings from SGX is trading at $1.87 before dropping to $1.82 today. Anyway, we'll be holding this till the rights shares are available for trading.
Most of you would have already noticed we've been selling of alot of our positions and holding on to some cash. I'm waiting for the market to tank a little before trying to find for some good counters that's been trading at discounted prices.
Be patient and good luck ahead!
Showing posts with label Quiksilver Inc. Show all posts
Showing posts with label Quiksilver Inc. Show all posts
Monday, October 18, 2010
Monday, October 11, 2010
NYSE : Quiksilver Inc
Quiksilver Inc is an apparel company that designs, produces and distributes clothing, accessories and related products for young-minded people. One of my favourite brands around for all my beach wears.
The company stock has taken some beating from the recent high in late April, dropping from US$6.09 to as low as US$3.37. The company is in the black and announced EBITDA of $53.5mil. Revenue has drop a little comparing to 2009 but profit has increased. It seems the stock has now reach a fairly good price.
The stock had actually broken the downward trendline on Wednesday but due to market uncertainty, I didn't feel that it is a good time to enter. But on Friday it seems to have found the strength to push further. I believe there is potential for it to hit about US$4.65.
Entry price : Any price below US$4.25
Cut loss price : Around US$3.95 where it will break the recent upward trendline
Target price : Around US$4.65 (looking forward to end Oct quarterly result)
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