VeriFone Systems (PAY) plunged 38% early Thursday after the credit card payment device maker late Wednesday preannounced weak fiscal Q1 results and forecast current quarter profit and revenue below estimates.
I sensed that it is a good buying opportunity and bought 100 shares @ US$19.83 a piece. I have reserved some cash to buy if it drops further. Keeping this for at least 3 months and see whether I can profit from here. When I sell, I will post again. My target to sell is around US$25.
http://www.thestreet.com/story/11851004/1/verifone-looking-more-like-a-value-stock-every-day.html?puc=yahoo&cm_ven=YAHOO
I didn't buy the HNR and MM stocks in the end. I was reading the financials and did not see great potential in them.
I regretted that I did not sell my LVS stock when they were at US$55. Now it is below $50 and dropping. I will set my target to sell at US$55 again. Watching this counter...
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