Monday, September 19, 2005
Finlay
Despite a nice move in EEI on account of news that the company will be involved in the Katrina clean up and a five percent jump in shares of TRT (which is my second largest holding after COBR), my portfolio buckled to market pressure and declined $300 for the day.
How about that NGAS? I sold my shares on Friday and the stock went crazy today, surging 15 percent to a new 52 week high. Oh well. Can't win them all.
I started a new position in Finlay Enterprises (FNLY). Finlay operates jewelry stores in nearly 1000 locations in various department stores around the United States. Jewelry retailing is a cut-throat business and the company is not without its problems, most notably the imminent closure of some department stores in which it operates. Still, the stock is trading at tangible book value, one quarter of gross profits, and less than five times expected 2005 earnings. As such, I don't see much downside at current prices. I'm in for a 1000 shares and will double down if the price keeps heading lower.
How about that NGAS? I sold my shares on Friday and the stock went crazy today, surging 15 percent to a new 52 week high. Oh well. Can't win them all.
I started a new position in Finlay Enterprises (FNLY). Finlay operates jewelry stores in nearly 1000 locations in various department stores around the United States. Jewelry retailing is a cut-throat business and the company is not without its problems, most notably the imminent closure of some department stores in which it operates. Still, the stock is trading at tangible book value, one quarter of gross profits, and less than five times expected 2005 earnings. As such, I don't see much downside at current prices. I'm in for a 1000 shares and will double down if the price keeps heading lower.
# posted by Stockcoach @ 8:06 PM 
