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elnidodelaguila (< 20)

Spanish Ibex-35 doing a double bottom; it could be a nice idea; to put some money to work on EWP

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January 11, 2011 – Comments (6) | RELATED TICKERS: EWP , SAN

Good Afternoon:
It seems that Spanish markets enjoy some with a relax on € peripheral debt.
Spanish Ibex-35 is doing a technical double bottom that could lead to EWP to made a similar figure, doing a nice Morning Star..
It could be a nice timing signal to put some money to work on Spanish markets.
Good trading...
http://www.elnidodelaguila.com

6 Comments – Post Your Own

#1) On January 11, 2011 at 11:12 PM, checklist34 (99.79) wrote:

very nice post, and worth thinking about... 

maybe buy a little STD round abouts here...?

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#2) On January 11, 2011 at 11:32 PM, soycapital (< 20) wrote:

Bought some TEF, TLVT, have not pulled the trigger on STD yet, not sure an entry price. Good post.

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#3) On January 11, 2011 at 11:46 PM, Momentum21 (98.13) wrote:

I bought more STD last week...it is back down around May levels which is not necessarily a good thing but they are paying out a 5% yield on top of that...that will keep me hanging around for a bit to see how they shake out when things improve. 

Europe has a lot to deal with...the pie might be shrinking but the survivors will take more...and STD has already shown that.  

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#4) On January 13, 2011 at 5:35 PM, sentinelbrit (93.13) wrote:

I am thinking about buying some STD. Even though the stock has fallen alot, on a P/BV it is not raging value at 1.03x. But that is cheap for a stock with a ROE of 12%. The forward PER is 7.5x - which is cheap. I read Bank Credit Analyst who think Spain is not in the same condition as Greece, Ireland or Portugal. Frankly, if Spain goes then we are in deep do do. I am going to do a little more homework on it.

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#5) On January 13, 2011 at 6:33 PM, Momentum21 (98.13) wrote:

sentinelbrit (95.61) - how goes it man?

STD is now my largest holding (due to adding some shares and a decent week). I don't claim to have a valuation pegged but I feel good about their diversification, dividend and market dominance.

I am sure there are still a few more time bombs in their portfolio and the European economy but I am willing to give it time to unfold. Over the years these guys have been a very good bank even though you have to imagine that lots of growth was fueled through excess. 

It's not unreasonable to assume that they might actually emerge fundamentally stronger than ever before.  

I sold the balance of my speculative position in IRE in order to adjust my risk a little.   

It's easy for me to be bullish right now after a 12% rise in 5 days...so take it with a grain of salt. : ) 

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#6) On January 14, 2011 at 5:40 PM, elnidodelaguila (< 20) wrote:

Holding Tight EWP till spring, will be a nice business for your diversified portfolio.

Have a great week-end guys...

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