The Dean’s Trades: Bought LNET at $3.55 & $3.01
April 23rd, 2009 at 2:43 pm Posted by The Dean
This morning I wrote about LNET trading up 133% on quarterly earnings news and that i’d be looking for opportunities to buy on the dips.
Less than 60 minutes later the typical profit-taking/panic-selling kicked in and LNET tanked from $4 to $3.40 within minutes. I bought shares at $3.55 once it found short-term support.
Between 3:00-3:30pm EST the stock sold off again and I got lucky with fill’s @ $3.01.
So right now i’m long LNET at an average price of about $3.19 and if these recent earnings plays continue to surge than I’ll profit handsomely.
O boy keep these picks coming I bought in the $3.60 range and i’ll sleep well tonight it closed 4.09
Yep, keep the great picks coming. You should do more homework before recommending dogs. LNET? Please. This company has no chance. Why? They have a disfunctional organizational structure that smothers innovation. The only thing they know how to do well is abandoning them as technology advances continue to erode their base. While this has been clear for a while, they continue to do nothing of substance.
Most companies would have seen recognised this a long time ago and chosen to aggressively milk the cash cow to fuel new business ventures. Nope, not them. They invested more in the same stale business, king of all buggy whip manufacturers. Congratulations to them and good luck to those following The Dean. Dean of Mixology?
Superior thiknnig demonstrated above. Thanks!