3SOF

Quote from: David Randolph on June 10, 2007, 10:46:16 AM
Unfortunately ICOC had a small correction in line with the general market. I'm glad it is almost done and the stock is set to breakout to new 14 year highs. I'll keep holding ICOC.

Picked up some shares on friday, Good pick.........

ICOC now trading above $9. Nice.

Quote from: yukiii on June 10, 2007, 05:41:23 PM

Quote from: David Randolph on June 10, 2007, 10:46:16 AM
Unfortunately ICOC had a small correction in line with the general market. I'm glad it is almost done and the stock is set to breakout to new 14 year highs. I'll keep holding ICOC.

Picked up some shares on friday, Good pick.........

Well done yukiii, I wonder who sold you those shares so cheap

Quote from: BigSully1 on June 11, 2007, 03:04:45 PM
ICOC now trading above $9. Nice.

Yes, nice breakout with volume above average. But what I really want to see is the stock decisively closing above $9.12, that will show everybody that preferred shares are not a problem anymore.

I'll keep holding ICOC.

Zacks made a few comments about ICOC:

«ICO Inc. (Nasdaq: ICOC) recently established a new 52-week high after reporting a record fiscal second quarter and currently trades just slightly below that level. Record quarterly revenues of $94.7 million increased by 19% on a year-over-year basis. The company noted that almost half of the revenue increase, or $7.4 million, was a result of an increase in sales and service volumes of 3%. Second-quarter earnings per share also grew on a year-over-year basis and topped the consensus estimate 14%. For the full year, ICOC satisfies the criteria of this Profit Track with a five-year growth track record of 100%.»

I believe that if they had mentioned the preferred shares issue the stock would have sky rocketed. This way, it pulled back again, giving more opportunities for bulls to load the truck with cheap shares.

ICIC at support $8.78 if that fails $8.15 is next

Quote from: yukiii on June 12, 2007, 10:51:21 PM
ICIC at support $8.78 if that fails $8.15 is next

Hi yukiii, the low of the day was $8.62 (breaking below your $8.78), but then the stock came back up and actually closed positive on the day. I wonder why you even try to guess these short term supports.

ICOC is having some troubling crossing over the all important $9.125 level. We know the company retired most of the preferred shares outstanding, but there are some still, and maybe that's what's putting the breaks on the stock's advance:

«On October 10, 2006, the Company's Board of Directors authorized the repurchase of up to 1,160,000 out of 1,290,000 outstanding Depositary Shares subject to the amendments discussed above becoming effective. During the quarter ended December 31, 2006, the Company repurchased 1,095,853 Depositary Shares, or 84.9% of the authorized and outstanding Preferred Stock for $26.00 per Depositary Share, for total consideration of $28.5 million.»

So, there are still 1,290,000-1,095,853 = 194,147 depositary shares outstanding.

«During November 1993, the Company completed its initial offering of the $6.75 Convertible Exchangeable Preferred Stock (the "Preferred Stock"). The shares of Preferred Stock are evidenced by Depositary Shares, each representing 1/4 of a share of Preferred Stock. A total of 1,290,000 Depositary Shares were sold at a price of $25 per share. Each share of Preferred Stock is convertible into 10.96 shares of the Company's Common Stock (equivalent to 2.74 shares of Common Stock per Depositary Share) at a conversion price of $9.125 per common share subject to adjustment upon the occurrence of certain events.»

So, there are about 194,147*2.74 = 531,963 possible new shares coming from the conversion of the preferred shares still outstanding, if the stock closes significantly above $9.125. This doesn't seem like much, considering there are already roughly 26 million shares outstanding:

«There were 25,998,614 shares of common stock without par value outstanding as of April 26, 2007»

Therefore I believe it is just a matter of time for ICOC to make a bullish breakout and close above the key $9.125 level. I'll keep holding the stock. 

Just incase someone wants to buy, I get emails all the time if they should buy here or there.
Many people wait for them to hit support before they buy. Today was a good day to buy.

Quote from: yukiii on June 14, 2007, 04:32:14 AM
Just incase someone wants to buy, I get emails all the time if they should buy here or there.
Many people wait for them to hit support before they buy. Today was a good day to buy.

Ok.

I believe that if/when ICOC closes above $9.125 it can rise 50% quite rapidly. So pay attention to that level. I'll keep holding ICOC.

Nice close 9.45 

Now it's extremely bullish 

This's one of the best picks david

Well David you nailed it. Got rid of the last 10 years resistance  with
good volume
Applaud

Quote from: Garoh on June 15, 2007, 05:42:39 PM
Nice close 9.45 

Now it's extremely bullish 

This's one of the best picks david

Quote from: jorgegr on June 15, 2007, 06:21:13 PM
Well David you nailed it. Got rid of the last 10 years resistance  with
good volume
Applaud

Thanks Garoh and jorgegr

I guess that now that ICOC closed at a new 14 year high, everybody will want to know why. And they'll see two major positive factors:

1) No more preferred shares conversion barrier at $9.125;
2) Forward P/E ratio is 11.8 (if we annualize the $0.20 EPS they had in calendar Q1 2007), and earnings more than doubled from the year ago levels:

«Similar to the year-over-year quarterly comparison, the revenue increase led to an increase in operating income of $2.6 million or 60%. Income from continuing operations increased $3.0 million or 116% and net income increased $4.5 million or 177%.»

The way is clear for ICOC to approach its all time high, set 17 years ago at $16.25.

Quote from: David Randolph on June 17, 2007, 06:15:17 AM
I guess that now that ICOC closed at a new 14 year high, everybody will want to know why. And they'll see two major positive factors:

David,
Where did you get the $8.63 as the 14 year high, I see $10 on my chart and it is also the all-time high. Just wondering.

Quote from: Terliso on June 17, 2007, 04:56:54 PM

Quote from: David Randolph on June 17, 2007, 06:15:17 AM
I guess that now that ICOC closed at a new 14 year high, everybody will want to know why. And they'll see two major positive factors:

David,
Where did you get the $8.63 as the 14 year high, I see $10 on my chart and it is also the all-time high. Just wondering.

Hi Terliso, what I meant was that above $8.63 ICOC was at a new 14 year high. Above 10 it will be at a new 17 year high. And here's my long term chart with the all time high at $16.25:

Another day, another rise for ICOC. Probably now everybody is seeing that preferred shares aren't a problem anymore, since the stock traded way above $9.125 for two days and it held, so there wasn't any massive conversion of preferred shares into common shares.

I wonder if we'll close the week above $10, which is the 17 year high ... probably we will, but that doesn't matter all that much for the long term outcome of this trade. Fundamentally the stock is worth around $16, I'll keep holding.

QuoteI wonder if we'll close the week above $10, which is the 17 year high ... probably we will, but that doesn't matter all that much for the long term outcome of this trade.

Closed at $10 yesterday, which is the 14 year high. Volume was the highest in more than four months. Eventually ICOC will close above $10 (probably this week) and that will open the way for a trip to the all time high set 17 years ago at $16.25.

Just hold and enjoy the ride.