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Wednesday, March 31, 2010

CCME files Form 10-K !

I believe this was the last hurdle before institutions buy in heavy:

Read 10-K

18 comments:

Anonymous said...

whats with the S3?

David said...

People need to realize that a 10k may not necessarily make the stock pop immediately. In fact, I wouldn't be surprised if it sold off a bit by impatient retail traders and other weak hands. Funds and analysts need days/weeks to go over all the data to make decisions. I've already made the decision to hold my shares for several months if necessary, unless it hits my targets before then. But, I agree with your statement. This is where the fun begins. I will add on any dips below $13.50, if any.

Anonymous said...

i had question regarding the dividend payout of 17M. Not sure I get a dividend payment as a shareholder.

Any idea what that line item on the income statement is referring too?

Anonymous said...

Hey David: At what target price will you sell CCME?

David said...

First target is $18's for mostly trading position. Core position I'm looking for $20-$22. My targets may be on the low side, though, compared to others. Who knows, it may very well pull a RINO and blow past my personal targets.

David said...

aaaaaaaand there's your selling by impatient traders thinking the 10k was the miracle pop. Will look to buy low 13's if it gets there... or once it settles a bit.

Anonymous said...

David:

This drop looks especially disturbing for CCME. I can't be just impatient traders. Are you still confident and holding this?

David said...

Confidence shaken a bit, to be honest. I'm not sure what happened today, though other china stocks were hit pretty hard as well. I added a bit at $13.17 as well as $12.86. Support now seems to be that large 34k block buy at the close. If it holds, I'll feel better about it. Same thing went on with RINO. It went to $17's, dipped all the way to $10's a few days later and rocketed to $35 in about 3-4 months. Best of luck.

mango said...

you rock dude!

PeterJ. said...

David,

Doesn't look like support is holding on CCME. Are you still holding? I really can't understand this. We are now back to pre-10K levels...it's like the earnings meant nothing.

David said...

I am still holding. I bought early, so I have a bit of cushion. But I'm not very happy with the action, nor do I understand why it continues to fall. I've asked around and everyone is just as puzzled. Most plausible explanation I have heard so far is the China currency issue... but I doubt that's the only reason.

Joeseph Yeagle said...

The AMEX stocks get no respect. I believe if CCME were to announce a move to Nasdaq, it would be more in line with other companies like FMCN.

David said...

My spidey sense says today should have been the bottom... at least for the time being. Didn't add anymore today on the dip as my portfolio is already too heavily weighted in this.. but I stand by my higher adds.

Anonymous said...

I agree, I think that $12.18-$12.20 range was the bottom. Notice how it jumped up nicely after that point?

Mike said...

David:
Enjoy your insightful posts. I unfortunately bought CCME a couple of days ago at $14. In all my years of trading, I have never seen a stock behave like this after at stellar 10K. What would you do in my scenario? Do you ever see this hitting $14 again?
Mike

David said...

I had to be right sooner or later, right? haha. Mike - in your case, if you have the ability to hold, there's no benefit in selling now (assuming it does not fall hard again, which I don't think it will). I've added twice on the way down... both of which are still below current market price and I'm confident they'll do well in the near term. There are never any guarantees in the market, but $14 should almost certainly hit. My targets are $18's for trading shares + adds and $20+ for core position. Time frame isn't an issue to me personally as I still have enough funds to trade other stuff. If it matters, CCME was taken off the SHO list today, which COULD be a good sign. Good luck.

Anonymous said...

David,

CCME under $12 now! How much lower can it go?

Scott

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