12/17/2012 Live Update

[Cobra]

maybe a H&S bottom here targeting 1428.75.

[skittlesmds]

It looks like a Bull Flag breakout to me.

[pezhead9000]

FWIW: Garmin CEO dumps stock - then departs
http://www.bizjournals.com/kansascity/n ... ?ana=yfcpc

He did not depart, he is now EC(executive chairman);
7:00AM Garmin announced that effective Jan 1, 2013 the board of directors has appointed Clifton Pemble to the position of president and CEO (GRMN) 40.68 : Co announced that effective January 1, 2013 the board of directors has appointed Clifton Pemble to the position of president and CEO, succeeding co-founder, Dr. Min Kao. Pemble, who joined Garmin in 1989 as one of the co's first engineers, has been serving as president and chief operating officer since October 2007, and has been a member of the Garmin board of directors since August 2004. Dr. Kao will assume the role of executive chairman, where he will continue to serve as the chairman of the board of directors while also providing ongoing support to the company's strategic planning and business development processes.

Yes - correct. Dumps stock and is no longer CEO

I think he still owns a large quantity of the stock, he only sold part of it...

According to Yahoo, as of 2011 he had ~10M shares and recently sold 1.8M

[pezhead9000]

FWIW: Garmin CEO dumps stock - then departs
http://www.bizjournals.com/kansascity/n ... ?ana=yfcpc

He did not depart, he is now EC(executive chairman);
7:00AM Garmin announced that effective Jan 1, 2013 the board of directors has appointed Clifton Pemble to the position of president and CEO (GRMN) 40.68 : Co announced that effective January 1, 2013 the board of directors has appointed Clifton Pemble to the position of president and CEO, succeeding co-founder, Dr. Min Kao. Pemble, who joined Garmin in 1989 as one of the co's first engineers, has been serving as president and chief operating officer since October 2007, and has been a member of the Garmin board of directors since August 2004. Dr. Kao will assume the role of executive chairman, where he will continue to serve as the chairman of the board of directors while also providing ongoing support to the company's strategic planning and business development processes.

Yes - correct. Dumps stock and is no longer CEO

I think he still owns a large quantity of the stock, he only sold part of it...

According to Yahoo, as of 2011 he had ~10M shares and recently sold 1.8M

Yahoo just updated - he owns: KAO MIN H 9,861,188 Dec 10, 2012

[SB73]

just get long and enjoy the low volume melt up.

[Cobra]

target met. this bull is strong. don't fight bears.

[TraderJoe]

Yes - correct. Dumps stock and is no longer CEO[/quote]

I think he still owns a large quantity of the stock, he only sold part of it...[/quote]

According to Yahoo, as of 2011 he had ~10M shares and recently sold 1.8M[/quote]

All CEO's with 10 million shares sell yearly, he is not dumping it as you state.

[uempel]

maybe a H&S bottom here targeting 1428.75.

Good call

[tradilus]

Wow, thanks for the encouragement. I feel much better now. The guy did make me think twice if I'm doing the right thing or I should be shamed.

Cobra, one stupid signal is not enough to change the winning strategy, is it?

Well, the most important thing I learned here on this board is to trust the trend... So for me that guy's comment was like a kind of a pullback in a healthy upside move - this blog "has legs" indeed, thanks to you and other active members!

Greetings from Sweden!

[skittlesmds]

Just an opinion. Watch out for 1430-1435.. It should have some resistance around there. If not, it could be to the moon.

[rc1269]

just looks like a repeat of the bullish burst we had on Oct 16-18. any non-intraday traders just be careful here.

[jarbo456]

for people who aren't skiddish of CEF's, looking for a longer term investment with superior yield and diversity into non-government/corporate fixed income, MHN just poppped onto my radar.

Thanks for the MHN suggestion, but no thanks.
If the 5-year chart doesn't scare you, the 6% dividend yield ought to disappoint you. As you can see from the last three months of dividends, it's starting to decline. "Muniholdings of New York" ought to really scare you. I'll stick to my 13.9% dividend yield of PHK.

i'm going to regret replying...but once again your non-fact-based generalized comments must be smacked down.

1) i meant to say it's entered my sphere of interest - aka now it's interesting, but some more in-depth research (something that seems foreign to you) is required. the trade set up may not be there right away (which I don't think it is)
2) the 5 year chart? please explain - what exactly do you see that's verifiably bearish - name a pattern, name a tech indicator, pretty much point out anything to back up your statement that the 5 year chart is "scary" (i'm all ears, hell tell me that the RSI is below 50 on the weeklies...ANYTHING to back up your statement). you, on the other hand, simply reply, "if the 5-year chart doesn't scare you" dot, dot, dot...fluff.
Now the daily chart definitely looks weak, and with 12 down days in a row, one can expect a dead cat bounce to fail one of these days. should the price reach the high 14 handle and show a bottoming pattern, i'm of the opinion that it could be added to your portfolio. Again, specifics...it's what drives smart investments - not vapid generalized statements.
3) it's a 6% dividend in a tax free environment in a space that has ridiculously low default rates - name the default rate for your high yield corporates? you're paid to hold the risk with PHK. again, you compare PHK with a product that's completely different and your base judgement is on yield alone - ignoramus.
4) 3 months of dividend declines is hardly a track record to note - especially on a product that pays monthly! with that being said, i don't deny there is dividend payout risk, as there is in ANY of these high yield assets. everyone should be watching the payout trend, and RESEARCHING what the underlying causes are. for MHN there is a risk that the older higher yielding paper will be replaced with new lower yielding paper - it's something to definitely watch. with that being said, i don't mind even 5% on this, should it diversify me away from high yield corporates, and pay better than 10-30 year treasuries.
5) i'm not particularly scared of NY paper, it may not be the best, but it's certainly far from the worst. once again you make a bold and general statement about NY muni holdings without backing it up. NY is a specialty state, with a framework that limits yield. with this kind of oversight it makes credit less of a risk, but obviously limits some upside in yield. because of it's specialty status, ny munis make a lot more sense for ny residents. this is researched and verifiable - rather than, "muniholdinngs of new york ought to really scare you"...based on what? and in what context? no research, no knowledge, and a totally empty statement.

move on Petsamo - my comments aren't meant for you anyway - they're meant for people who are interested in the flow of researched, vetted, and thoughtful ideas.

[KENA]

The 3 Peaks and Domed House mid Dec. Est. of Dow 12800 did not work out..The Nov target did work ok now lets see if end Dec target of 11500 works out..IMO this bull move is a lot closer to the end then what the dn move can and may be.Right now we got a green trend up to test the hi's so enjoy the move for now.

[Me XMan]

This bear is waiting in the bush...

target met. this bull is strong. don't fight bears.

[TraderGirl]

Seems we could start reversing soon...

[Cobra]

bears are watching from distance.

[BullBear52x]

Bob Farrell's 10 Rules.

5. The public buys the most at the top and the least at the bottom.

Translation: The average individual investor is most bullish at market tops and most bearish at market bottoms. The survey from the American Association of Individual Investors is often cited as a barometer for investor sentiment. In theory, excessively bullish sentiment warns of a market top, while excessively bearish sentiment warns of a market bottom.

[Hubon]

hahaha great pic

[Al_Dente]

bears are watch from distance.

[Cobra]

Wow, thanks for the encouragement. I feel much better now. The guy did make me think twice if I'm doing the right thing or I should be shamed.

Cobra, one stupid signal is not enough to change the winning strategy, is it?

Well, the most important thing I learned here on this board is to trust the trend... So for me that guy's comment was like a kind of a pullback in a healthy upside move - this blog "has legs" indeed, thanks to you and other active members!

Greetings from Sweden!

Thanks.

by the way, now everyone knows my sentences:

This bull/bear has legs.
This kind of consolidation favors bulls/bears.
Target met (but rarely when the target fails, I said anything about target failed )

Anything else I often say? Maybe bears/bulls no fight? Maybe please vote for me? Maybe thank you guys, I'll see you tomorrow.