On the rise again. Here are some highlights
and a $1000 calculation. The 52-week low:
$0.26. Closing price today: $1.41. Today's
high: $1.59. On Thursday, April 2, 2009,
Conseco's CEO purchased 200,000 shares at
approximately $1.11 per share, an action
which strengthened the rise.
At $0.40 per share, 1000 shares cost $400
before whatever commission. Am setting
the commission at $40 this time. Today
this stock traded above $1.40 most of the
trading day. Several times it was above
$1.50. Let's say someone bought the 1000
shares mentioned above at $0.40 per share
and today sold those 1000 shares at $1.40
per share. Including the buy and sell
commissions, that someone would have made
1. CNO fell to $0.26 because rating firms
had doubts Conseco could remain a
2. The 52-week low of $0.26 occurred on
March 10, 2009.
3. On March 17, 2009 the low was $0.31
and the open, high, and close: $0.35.
4. On the following three days, CNO could
have been bought at $0.40. However,
indications were CNO was moving up.
5. Even so, buying CNO at $0.40 would have
been a highly contrarian move.
6. Such a bet should not be made lightly.