Trade: Cedar Fair (FUN)

Stock Ratings: 1 = buy at current stock prices, 2 = buy on a 5-10% dip in stock price, 3 = sell on a 5-10% increase in stock price, 4 = sell at current stock prices to raise cash.  Ratings are based upon 12-18 month outlook on stock direction and not necessarily related to moves I make due to financial positioning.

Today I decided to make a move that market conditions have been giving me and added another small position to my stake in Cedar Fair.  The company is sporting a 6.5% yield and the are likely to only benefit from how cheap gasoline has gotten.  As such, I continue to see growth prospects in the company, and the stock is under valued.  That doesn't matter right now with current market sentiment, but I'm buying on a longer time horizon.  My original plan was to buy a larger chunk and fill my position, but given the market, I decided to leave some powder for better opportunities.

As for the trade itself, it was both good and bad.  The good news is after opening up, I stuck to my disciplines and made the stock come into my price, as $52.50 was the price I've been wanting to purchase at for awhile.  The bad news is the stock closed yesterday below $52 and it ended up closing below $51 today.  I chased into an up opening in a bear market - rarely, if ever is that wise.  I need to get better there.  I'd watched the market, I knew the trends, I was following it with any other stock I watched and I just didn't execute.  Fortunately, I still have some cash to stick into this at lower prices that get offered.