Hello Friends! If you know me, at least as a blog writer and trader (LOL), you will know that a nickel burns a hole in my pocket! Well, as per my rules, I am avoiding adding any positions until I sell something at a GAIN...well I did that with the portion of HIBB I sold earlier today.
Looking through the lists of gainers, I found Kyphon (KYPH), which I had posted on Bob's Advice on 10/30/03. KYPH was approved for sale of bone cement, as announced today, and this took the stock into the stratosphere. As I write, KYPH is trading at $28.00, up $3.72 or 15.32% on the day. I purchased 300 shares a few moments ago at $28.137.
On January 27, 2004, KYPH reported 4th quarter 2003 results which showed net sales of $39.7 million up 74% over the $22.7 million the prior year and net income for the quarter of $19.3 million, or $.45/diluted share, compared to net income of $.9 million or $.02/diluted share the prior year. The company is still growing like 'gangbusters'.
Anyhow, there goes THAT nickel. So now I will wait for another portion of a stock to hit a sell point to add another position. Really would like to get back to my 25 position portfolio.
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