Friday, December 01, 2006

 

ENPT’s daily double

And speaking of a few good trades, ENPT soared this morning after reporting a very strong earnings report. Unfortunately, just like CBTE, this was a small position for me. I had sold half my ENPT shares a few months ago and so as of this morning, I only had 2500 shares to my name. I sold 1750 of them for an average price of about $6.40 during early trading. My decision to sell most of my shares was based on the fact that while headline EPS was excellent, revenue did decline year over year, the company paid no income tax, and I have concerns about just how “clean” those earnings really were (if they included one-time benefits, etc.). We won’t know the answer to the latter question until the 10Q comes out. Still, make no mistake, this was a great quarter for ENPT. Moreover, I was very impressed with the huge trading volume today. I suspect we haven’t heard the last about this stock.

Thanks to ENPT, PDEX and EGR, the portfolio gained 1.4 percent today, to close the week up $15,135 (1.9 percent). Have a nice weekend everyone!

# posted by Stockcoach @ 4:58 PM
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