Tuesday, June 06, 2006

ADDING, BUT NOT AGGRESSIVELY

I opened a small position of CRDN here in this sell-off. I am probably early, but the sell-off is pretty strong and gethering strength, and valuation is becoming compelling. CRDN just upped its 2006 and 2007 guidance and it has fallen quite a bit. It is currently traded at about 10X of its 07EPS estimate. It has showed some strength in the past few sessions despite the severe sell-off and is currently moving against its 200 SMA. If it could overcome this resisitence, it could go up for another 5-10 points.

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