Some fortunate timing in this name. I mentioned a week ago, I was taking some profits on consulting company Huron Consulting (HURN) as the stock ramped from $72 to $83 (15%) in 7 sessions. The stock was not near any support levels on the chart - so that was the simple reasoning to take some off the table. Well today we are seeing quite a nice pullback and the stock is now near the 50 day moving average of $75.50. So I am adding some shares here near $77, or 7% lower then where I sold them just last week.
I am just taking this position back to where it was before I took a portion of the table to lock in some profits and am back up to 500 shares or a 3.1% position. I am hoping for similar experiences in some other areas I want to add exposure to such as the deep sea oil drillers and fertilizer stocks, which remain stubbornly high (as crude just hits $100, and Bernanke continues to profess it doesn't matter because it's not part of core inflation anyhow - time to drop some more helicopters of money). I tried to explain to the gas station attendent this morning that I shouldn't be paying $3 for gas since its not part of core - he did not buy it. Perhaps Bernanke has a special gas station where inflation does not occur. (anyhow I digress, forgive me)
I do continue to expect Huron Consulting to perform on expectations of an increase in need for this company's 'restructuring' consulting services in a "slowing economy". (but not a recession mind you, nope, no way, no how, not in an election year). Unfortunately, we might of just formed a double top in this name as well - see late October peak and peak from last week. Could spell some trouble...
Long Huron Consulting in fund; no personal position
