Trade: Cedar Fair (FUN)
Notes:
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.
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.
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.
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