NightHawk Radiology Holdings, Inc. (NHWK)

This bird is ready to soar! Or at least scan. NHWK is a first mover and market leader in the field of outsourced health services providing teleradiology (reads radiology images) during the off hours and weekends when regular specialists are not available. I see this as an emerging trend as more health care utilizes 'scans' (increasing 15% a year) and demands for 'real time' analysis. Concerns about the company's moat (low barriers for entry), ability to digest recent acquisitions, medicare acceptance and general market glum have allowed these shares to trade at a huge discount. The market is asking NHWK to prove itself before it will put any 'value' on this company. Fair enough, but this is a profitable and growing business (20%+ growth projected for the next few years) with solid management who know their business. Yes, the waters are choppy (read: risk) but I believe that NHWK has the management, technology and business plan to fly in this nascent field. I bought my first third at $15 a stub and thought I was getting cheap growth. Now for a second third I am getting a 30%+ discount because the market still has not seen 'value'. I see the niche and the upside in addition to a well-run company trying to capitalize on it. Not without risks but I think this little bird will prove itself and beat the market big time from here. Outperform!