Despite a downgrade this morning on valuation,
Blue Coat Systems (BCSI) had an impressive day. BCSI closed @ $76.38 Friday, it opened around $75 before dipping to near $73 around lunch time. From that point, the stock did a near 45 degree angle run into the close north of $76.
Blue Coat Systems (BCSI) was one of the stocks on my
shopping list. While my dream scenario is a drop down to the 50 day moving average in the low $60s, I just like the fundamentals a lot, so I jumped in today since the stock hit its 20 day moving average (north of $72) and bounced back nicely. I added about 100 shares today in the $74s to bring the position up to around 1.9% of the fund. In the $74 range, the stock is down about 15% from its recent highs of >$87.
I'd like to add a lot more but was/am hoping for more of a pullback to top off the position. I am going to disagree with the analyst on his valuation call in this name.
For new readers, more about
Blue Coat Systems here, or click on the label cloud to the right to see all posts regarding this name.
Long Blue Coat Systems in the fund; no personal positions
