I had bought one thousand shares at $3 thinking that the company was in a recovery mode. After zooming to $8, now the stock is tumbling to $7 amid reports the 2nd quarter profits are not expected to be anywhere near projections. One analyst said Providian would top out at $14 this year, but that is looking overly optimistic. Any thoughts?
I use Investors Business Daily to base a lot of my decisions, they give PVN an overall rating of 53 out of 99, however they are being accumulated, they give them an acc/dis rating of A. It is trading above the 50 day moving average and you bought at a good price. Give yourself a little room, but if it continues to move south, get out. Just my opinion. I like netbank (NTBK) in the banking industry. www.creditsense.com
Yes i too bought PVN but only 100 shares at $3.38 should have bought more but they are for my daughter who is 6...So should i sell or keep her in it for the long ride?
