Wednesday, November 08, 2006

Hydril Update- I couldn't take it anymore and sold my Hydril at $69.30, as it continues to rally out of control. Nearly a 40% gain from $50.50 entry price. Too bad I never got to my full position, because it rallied so quickly. Next time I get to buy this good of a company on the cheap (while the cycle is still in their favor), will put on a full-position in the name right away. Meanwhile, my hold-discipline on FRK is not paying off yet, as the stock has fallen off of the $46 high from a week or so ago. Not too worried, have been reading that the Cemex bid for Rinker Group would need to climb nearly 10% for certain fund managers to consider accepting that offer....which would bode extremely well for the prospects of the less-expensive Florida Rock.

QOTD from Will Rogers- "A holding company is a thing where you hand an accomplice the goods while the policeman searches you. "

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