Tuesday, August 25, 2009
Harmon moves up
I mentioned Harmon this morning on the JP Morgan upgrade,and the stock is now 29.79 up 10% on the day.
10%--and just getting started.
And this weekend it was panned by Barron's.
Now I went over their very sophomoric and rudimentary analysis of that call on this blog, early Saturday morning, just 44 minutes after the Barron's article was out.
And today, JPM puts out a $44 target on Harmon.
So who were the clowns that sold on the Barron's news?? Didn't anyone want the free money?
Here's the story--you can read it again, and kick yourself, for not taking the free money.
Now why did the stock rebound so strongly? Was it just the upgrade, or is it the 6.66 million shorts feeling some pain?
Sunday night, I wrote about pain and I quoted Lombardi. He taught his players to play with pain.
And that's what this market can't stand--even by some of these bulls.
Look at Jim Cramer, who was pounding the table on Citigroup. Yesterday after the close, he got squeamish on the stock because it moved down a quarter.
And he abandons his thesis for .25?
Even though he thinks the stock is heading to 12?
How much pain can he take?
We now know. A quarter's worth.
But football last four quarters.
The coin above is an 1844 half eagle. It's not a quarter eagle. That's two quarters.
And it's worth $2.5 million.
So think about that next time, you heed the advice of these touts that will cost you money.
And get you out in the first quarter.
And learn to play with pain!
Posted by Palmoni at 12:12 PM