2017-11-14
Corning Inc – GLW
I bought today at 31.77. This had been on my short list for some time, because I’ve wanted to own this company for a number of years. This was a internet bubble darling and I still wanted to stay I’ve bought them at least for a little while.
This company is a larger cap stock and have a liquid option market. Right now there is low implied volatility.
The next earnings date is Jan 23, 2018. Based on the chart pattern it is shaping up to break out and the upside is about $4.00 32-28 = 4/32 = 12.5%. The $28 is about the bottom of the cup of the cup with handle base. The upside is targeted to be $36.
The downside at 7% loss is $29.55. If the stock gets to this point I’m really wrong
This was listed in Investor’s Business Daily and the EPS and RS rankings were below 80 and breaks my trading plan. The chart pattern and liquid options is why I bought this over KRO
2017-12-04
I closed out my position, because I did not like the way it was trading. Last Friday there was a 4% shake in the stock. This was a red flag for me and feel that a drop that large is not really normal for this company. There was nothing in the news that would have caused that wide of a range.
Bryan