dragonLZ (99.34)

dragonLZ's CAPS Blog

I think CNO is getting ready for take-off...

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January 04, 2010 – Comments (4) | RELATED TICKERS: CNO , MTOR , TEN

Based on my TA, it looks to me CNO (Conseco Inc. - today'c closing price $5.26) is on it's way to break through its 52W high of $6.85 in 30 - 45 days (which would be a 30% gain from here). I also think CNO is a good stock to own for the long term.

Quick look at some PROS and CONS.

PROS:

- CNO is 25% off of its 52W high

- CNO hasn't moved anywhere for two months (CNO's price on 11/4/09 was $5.39)

- Since its March lows, CNO had quite a few big-jump-days on high volume, but only one big-drop-day on high volume back in May. Last big-jump-day was on 10/14/09 when CNO went up 29% on almost 10X average volume. No big distribution days since then.

- CNO has slowly going up since 12/9/09 (only 10% up since then, but moving in up direction)

CONS:

- CNO is up 2,000% since it's 52W Low.

Once again, in my opinion, CNO is a great buy at today's price (both short and long term)...

Disclaimer #1: CNO is my largest holding, and was a part of my Volume Story and this post too.

Disclaimer #2: I issued similar opinions / recommendations in the past:

My best ones: ARM is up 55% since my rec, and TEN is up 43%.

My worst ones: GTN is down 28%, and GRT is down 13%.

4 Comments – Post Your Own

#1) On January 04, 2010 at 8:53 PM, dragonLZ (99.34) wrote:

Here is what checklist34 had to say about CNO in his post about some investment ideas for 2010:

CNO. Conseco, a company that John Paulson of hedge fund fame has taken a stake in. CNO is profitable, and is priced at around 1/2 of book value. They have made enormous progress towards resolving the financial problems that sent the shares under $1 earlier in the year. With a foward p/e of 6 and a price/book of well under 1, CNO is very cheap. A director recently bought $2 million worth of stock.

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#2) On January 04, 2010 at 9:33 PM, Momentum21 (98.20) wrote:

checking it out DLZ, thanks...one always hopes to have gotten into something like this at much lower levels but we can only evaluate from today forward and I like the recent pitches you and checklist put together.

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#3) On January 05, 2010 at 1:57 AM, dantefromsomm (< 20) wrote: