Hello all. Good Wednesday. What a great day we had yesterday with our Buy Pick of the Day DSW Inc. and our Short Sale of the Day Career Education Corp. Additionally, our Overnight Trade worked out wonderfully for us this morning. We got involved with Exide Technologies (XIDE) at 3.85 yesterday, and we sold this morning at 4.12. That was a great gain of 9% that we made on XIDE. Hope some of you were able to get involved on the great trade. Our Buy Pick of the Day was worth 3% with a buy at 27.00 and a sale at 27.71. Our Short Sale of the Day was worth 2.5% with a short at 29 and a cover at 29.28. Finally, our other open position, from Monday, is our Play of the Week in Big Lots Inc. (BIG). We bought into this one at 36.50, and we are at just about even now after losing quite a bit yesterday.
Hope you were able to take advantage of some of those great positions. We are looking to continue our success with another
Overnight Trade today. Attached on the right is a follow-up to yesterday’s Daily Musing, which I think is just interesting to see that Apple is one of the lowest in R&D, but one of the most successful…interesting.
Overnight Trade: Verifone Systems Inc. (PAY)
Analysis: Verifone Systems (PAY) is today’s Overnight Trade of the Day. I am pretty excited about this company as I was Exide (XIDE) yesterday. Verifone is an payment solutions company that has developed a secure electronic payment register for merchants and produced the payment system that the iPhone uses to buy applications and many other products. The company is in an industry with few competitors and has seen a lot of success and growth over the past year. I believe the company will continue to impress with their earnings report in after hours today. The company is projected to report an EPS of 0.26 vs. one year ago’s 0.17.
Technology is one of those industries that, as I said yesterday with Exide, has done fairly well in this Q1 of 2010. Companies are beginning to revamp their reinvestments into technology to increase profitability and reliability. Payment systems have done exceptional in this past quarter. Business equipment has seen 5/6 of the major comapnies produced surprise profits over the past month. Verifone’s competitors, Hypercom (HYC), NCR (NCR), and Ingenico have all produced huge surprises on…
