Goodyear is undervalued and experiencing improving fundamentals. The technical trend is also bullish.
I'll buy GT at today's open for the 3 Stocks on Fire Portfolio.
This stock is the perfect channel stock. Higher highs & lower lows, yes, but it will hit 21ish then bound down to 15ish and start all over, no?
Bounces up and down like a rubber tire.
Quote from: snowcat on January 10, 2006, 09:49:25 PM
This stock is the perfect channel stock. Higher highs & lower lows, yes, but it will hit 21ish then bound down to 15ish and start all over, no?
Bounces up and down like a rubber tire.
Perhaps you're right snowcat :)
But I still think GT goes higher from this point, the stock is cheap with improving fundamentals. I'll have to dig a bit further, probably on tomorrow's update.
In the meantime I'll continue holding GT.
Bull markets have no resistance, and when GT decisively breaks $18.58 on the upside it won't stop before $23 or so (of course, it will take time for the move to develop, but I have time).
I'll continue holding GT without reserves.
GT came down a bit yesterday with the rest of the general market, nothing special. I'll continue holding GT.
The bounce looks like about 18.28 and will go to about 19ish.
Quote from: snowcat on January 13, 2006, 11:45:51 AM
The bounce looks like about 18.28 and will go to about 19ish.
Yes, but nothing special. I think GT is undervalued at this point and the stock can rise further and make new highs, but it hardly can be considered a stock on fire. I'm not sure the stock will be able to figure on a maximum of 10 holdings portfolio, but I'll continue holding it for now.
GT is starting to erode and I'm losing my patience with it, because GT isn't a Stocks on Fire Portfolio style of stock. I don't like it longer term either. The only reason that led me to buy it was cheap valuation. But probably, that cheap valuation is there for a reason, a strong reason: global demand for tires, especially more expensive tires, may slowdown.
Losing 4.75% at this point, a small loss that I will take around today's open. Better lose small than risk losing big.