How I decide on opening a position. GTN is my case example. Please critique

Discussion in 'Investing' started by gtrudeau88, Feb 5, 2021.

  1. gtrudeau88

    gtrudeau88 Well-Known Member

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    Hi all,
    I found GTN (Gray Television) on InvestorsObserver and I dug into them a bit and decided to buy 37 shares this morning for $18.43 a share. InvestorsObserver highlighted really good fundamentals with kinda blah short term and long term technical scores. Achieving the low, median, and high stock prices would produce gains of 13%, 30%, and 61% respectively.

    Then I looked at the WSJ info on the stock. It had 8 out 8 analyst buy ratings and showed that the company met earnings expectation 3/4 times in the last year (the miss was only 2 cents / share). The low/median/high stock prices were comparable to InvestorsObservers.

    Lastly I read 2 reports on the company, one from TheStreet and the other from MarketEdge. MarketEdge's reports ignore fundamentals it seems and focus solely on stock movement and I dismissed it. TheStreet focused on the fundamentals and gave it a glowing review.

    Blogger opinions are positive regarding GTN. The only downsides I can find are hedge fund and investor sentiments aren't great.

    If the stock does ok I'll buy some more next week. If it doesn't and it goes 7% below what I paid I'll dump it.

    What do you all think?

    Guy
     
    #1 gtrudeau88, Feb 5, 2021
    Last edited: Feb 5, 2021
  2. StockJock-e

    StockJock-e Brew Master
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    Sounds like you have a plan, and the stock is consolidating its recent rally nicely. Good luck!
     
  3. gtrudeau88

    gtrudeau88 Well-Known Member

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    Am I being thorough enough?
     
  4. Tom Teel

    Tom Teel New Member

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    I think you are being plenty thorough but I'm not crazy about your strategy.

    We are in a crazy/stupid volatile market right now. The historical volatility on GTN is 77.7% (fairly high). I would wait for the stock to fall at leat $1.00. Take a look at the one month chart. This stock is all over the place...
     
  5. gtrudeau88

    gtrudeau88 Well-Known Member

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    Hmm. Thanks for the thought.
     

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