got what i was looking for outta CAL (20%)...sold a lil early but no sweat...my next play is drum roll....Coinstar Inc (CSTR)
Coinstar Inc is the company that runs the coin counters you see at grocery stores and also the wildly popular Redbox DVD kiosks.
the 1 year low is 15 and change 12/08
the 1 year high is 38 and change 8/09
currently price is 24 and change....
reasons why im playing this....the $25 dollar price point has been bounced off of 3 times already this year and the same will happen here. the price has slid as of late due to rival blockbuster setting up some kiosks and due to the motion picture companies complaining about CSTR. i dont see blockbuster as a threat...they have a drop in the bucket number of machines compared to redbox and are the walking dead right now for revenue. the issue with the motion picture companies will be resolved in short order also....any new technology VCR, DVD, brick and mortar rentals etc etc has been shunned by the motion picture companies. in due time concessions are made on both sides and things will continue.
the trend downward waterfalled this morning on high volume and then reversed upward...this was the sellers being exhausted moment. today was the reversal... analyst targets are showing between $34.00 and $54.00 on this one. i think theres a quick oversold rally towards $30.00 which would be a quick 20% from these levels....
for the record im in @ 24.65 DYDD
Coinstar Inc is the company that runs the coin counters you see at grocery stores and also the wildly popular Redbox DVD kiosks.
the 1 year low is 15 and change 12/08
the 1 year high is 38 and change 8/09
currently price is 24 and change....
reasons why im playing this....the $25 dollar price point has been bounced off of 3 times already this year and the same will happen here. the price has slid as of late due to rival blockbuster setting up some kiosks and due to the motion picture companies complaining about CSTR. i dont see blockbuster as a threat...they have a drop in the bucket number of machines compared to redbox and are the walking dead right now for revenue. the issue with the motion picture companies will be resolved in short order also....any new technology VCR, DVD, brick and mortar rentals etc etc has been shunned by the motion picture companies. in due time concessions are made on both sides and things will continue.
the trend downward waterfalled this morning on high volume and then reversed upward...this was the sellers being exhausted moment. today was the reversal... analyst targets are showing between $34.00 and $54.00 on this one. i think theres a quick oversold rally towards $30.00 which would be a quick 20% from these levels....
for the record im in @ 24.65 DYDD
