PWRD - A Perfect World...a perfectly 'paid for' position

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A recent WDB Options Model candidate, PWRD is a very interesting little company. Currently trading at less then book value and less then 2 times cash, this Chinese software company has a vast array of 'role play' games that generate re-occurring revenue and are all going through upgrade cycles in 2013. On top of that the company owns large commercial real estate holdings (valued alone at close to $200 million) and oh ya did I mention, more than $7.00/share in cash on the books! After getting exercised, our cost basis on the stock is currently $10.20 and our ongoing margin requirement to hold the position is $5.40. First target (38.2 Fib and gap fill) would represent a double on the trade. Ultimate target ( OTE             Short SS             ) would represent a triple.
Hey CRInvestor, any reason you use the .764~ fib over .786? Can't make up my mind which to use. Thanks!
Reply both of yours are on chart above is don't really pay too much attnetion but I do see 78.6 hit a lot. I recon best...
CRInvestor CRInvestor
70.5 is my focus
I haven't commented on these stocks because I have been so busy trying to day trade Crude Oil and juggle a part time tennis teaching job (that now consumes almost all of the working day...ugh...gotta pay the bills). I had some time tonight and I posted a comment re. DRYS and I thought I would say something about this one too. PWRD has hit our '1st stop' (38.2 Fib) target and since then has consolidated nicely. Interestingly, this position is basically a double from entry levels so if one had taken this trade they really ought to have sold half their positions at double their purchase price and in essence created a 'risk free' trade on the remaining half. I fully expect this stock to tag it's OTE short sweet spot and am more than comfortable just riding it out to fruition....p.s. sweet double bottom breakout two sessions ago :)
An absolute monster trade!.....1st target hit
I have been watching this one. Should do well over summer.
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