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Bought Some Magnetek
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My buy just triggered in MAG @ $5.10.
I have had to buy order in ever since I wrote the article about the energy conservation trend.
This stock has been on my radar ever since I owned some 2 years ago.
These guys are in a perfect position to benefit from the energy conservation trend. They produce power converters that help distribute energy more efficiently. Just yesterday I read an article where people from Google were quoted talking about how so much of the energy in PC's and servers is wasted. I think we are going to start hearing about a lot of products that waste energy and MAG is in the perfect place to benefit from fixing this problem.
The chart just looks okk. The stock is riding the 200 day simple moving average. My hope is that it will pop off of it. I am putting a stop in at $4.50 just in case, but I dont think it will get this low. |
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This site is not just a place for me to speak my mind, my goal is for these posts to be a catalyst for conversation. If I have stimulated some thoughts/ideas please be sure to contribute below. Dont be shy =)
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