SPAR Popping ABD Flying

Monday, March 02, 2009 | | 2 comments »

Everytime I find SPAR under net current assets and put it on the blog it runs 20%. It happened here And right after I posted on SPAR the other day it bottomed out and ran 20% today. Stock has a lot of support going back to October.










I wasn't watching SPAR because I was to busy watching and buying Acco Brands ABD a spin-off of Fortune Brands FO some years back. ABD beat the street and I guess buyers are excited about how they intend to cut costs. Who knows though. This is an office products company in the middle of a recession. ABD was up 60% today even as the major indices fell again.




























full disclosure: long ABD FO

2 comments

  1. Charlie G. // March 2, 2009 8:59 PM

    Mark,

    Are you developing a new hybrid trading strategy - something like a fundamental momentum gutter stock day trading approach? Hope all is well!

  2. Mark Perkins // March 2, 2009 9:35 PM

    sort of. every now and then I have seen a good company other than what's usually in play like financials, gold etc in my day ranger screens. I know a bunch of companies just from following the market over the years and which ones might be favored by the institutions at such low prices, which that screen tends to find. Like Palm that was in play awhile back and in the screen before it went on a 300% run or whatever it was a few months ago. I need to look at a lot more shorts though and plan on doing that actually. It's nice being up 25% right now on ABD but it's kind of a crazy trade in this market.

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