FYI
http://www.thestreetwatch.com/
If CPSL = $1 billion = roughly a $17 stock. The Shanghai index closed up 2.2% today. Back “off to the races” either today or Thursday…In my opinion this thing is going to run higher through the end of next week, taking an occasional breath as it outstretches some of the shorter-term averages and some people take some profits.
Steel prices going higher per the article below
http://shoppingcart.reuters.com/news/articlenews.aspx?type=reutersEdge&storyID=2008-05-19T182142Z_01_N19518334_RTRUKOC_0_US-STEEL-PRICES.xml&WTmodLoc=HealthNewsHome_R3_reutersEdge-1
FYI, pick #3 reacted as I thought it would. The stock was off 15% but I still LOVE what I heard. Given that it is dead money and CPSL pulled back I sold that position and bought some more CPSL yesterday. I hope to build back my initial position in that other company ASAP. Right now I just think there is more ST upside in CPSL. I am about 100% positive I won't be recognizing the losses on those pick #3 (tiny loss) as the "wash rule" will likely apply. (ie. buying back within 30 days of taking the loss, meaning the loss carries forward into my new cost basis for tax purposes.)
Dan Ross
http://www.betterbizbooks.com/
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- 35 Year old SWM. I have 3 years of investment banking experience and 7 years of performance management improvement experience (financial analysis). I've worked for 2 Fortune 100 companies and another Fortune 500 company over the years. I've also worked for 2 medium sized businesses.
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