Weekly Street Sentiment: Sell Side Loves Everything and Everybody [View article]
It would be interesting to graph the First Coverage Sentiment indicator against the S&P if historical data is available. I would suspect it would be a contrary indicator because sell-side Analysts are always behind the curve and are notorious for poor market timing.
Small Cap Technology: Five Potential Takeovers [View article]
Ultimate Software (ULTI) is perking my interest with suspicious activity. Shares are trading at $28.68, yet a few traders have bought the November $35 calls today pushing the price higher, and in relative large lots for a thin name as 225 trade vs OI of 10. The internet software company trades 51X forward earnings and has a 12.44% short float, 17.3 days to cover. Earnings are set for October 28th. The company supports human resources with its software including talent management software, much like SucessFactors (SFSF) that recently traded to new highs. All time highs on this stock is $40, but this action makes me think someone could know something into earnings, and although I recently highlighted SFSF as a potential small cap Tech takeover target, maybe Ultimate Software is the name I should be looking at.
In that context the S&P is 53% it's 5 year highs, so in relative terms RYN would be overvalued (only 20% from highs) when considering comparable valuation metrics to the S&P 500.....
On Oct 02 09:58 AM yank wrote:
> Joe: > All well and good except for the part of "overvalued and nearing > its all-time high". I don't know what its "all-time" high is but > RYN @$39 is trading 20% off its 5-yr high, which was $49.55 > Just wanted to put your comment in its proper context. RYN may or > may not be overvalued at this point but over the past 50 years timber > has produced a return that easily matches or beats the S&P.<br/> > > Yank
Is it more likely the trader bought the calls as protection and went short 960K shares. I see the shares traded on an uptick, but for this size of a trade and the liquidity it could easily be a short equity position. I think that would make more sense as a trade....0.56 delta on the calls offers protection, but not perfectly hedged. There does not appear to be much reason to be long shares int his over-valued REIT nearing all time highs.
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On Oct 02 09:58 AM yank wrote:
> Joe:
> All well and good except for the part of "overvalued and nearing
> its all-time high". I don't know what its "all-time" high is but
> RYN @$39 is trading 20% off its 5-yr high, which was $49.55
> Just wanted to put your comment in its proper context. RYN may or
> may not be overvalued at this point but over the past 50 years timber
> has produced a return that easily matches or beats the S&P.<br/>
>
> Yank
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Stock Bought Current % Return
JAZZ $0.74 $6.52 781.08%
QLTI $2.09 $3.89 86.12%
CEGE $0.54 $0.28 -48.15%
CAPS $0.68 $0.64 -5.88%
EPIX $0.47 $0.01 -97.87%
INHX $0.32 $0.45 40.63%
CYCC $0.60 $1.02 70.00%
LJPC $0.20 $0.18 -10.00%
HEPH $0.37 $0.47 27.03%
HNAB $0.29 $0.63 117.24%
ALTU $0.30 $0.34 13.33%
SNSS $0.21 $0.40 90.48%
SPPI $2.70 $6.80 151.85%
93.53% Average