Quality Systems (QSII) broke over early March highs after being completely dead the past 5 weeks, so we'll see if we can catch a breakout here. I tried the same idea with Braskem (BAK) and it has not worked at all as the stock stalled immediately after the breakout. If QSII can rally from here, there should be no sweat until reaching $68. I will begin with a 1.4% exposure in the $60.80s.
We've been out of this stock since August 2009. The majority of the position was stopped out around $53, so it really has not done much considering the character of the market the past half year - essentially the stock rallied from last summer with the overall market, but gave much of it back. Still a quite expensive stock on PE basis, but it has had some time to get less expensive as higher earnings quarters have replaced lower earnings quarters. That said while I like the fundamentals, I am hoping to catch a nice move up on technicals. Or cause the market to finally sell off (see below)
My master plan now is to buy 1 new stock every 4 hours, and become more complacent by the minute. Perhaps only that will create a selloff in the market.
Long Quality Systems in fund; no personal position