Four updates on suggested stocks.

I suppose I should take my own advice. Having suggested buying ASPS back just a few days ago in "New Stock for your Consideration" at $37 per share it shot up to $42 per share on superior earnings for the past quarter those earnings being up 40%. I will again suggest one wait for a selloff and consider purchasing ASPS for capital gain opportunities.  This company is in the right place at the right time and I only regret I did not know about is sooner. You can expect as foreclosures actually start to be done at a more timely pace this stock will reflect the additional sales ASPS will gain.  The only reason I am not buying this stock into the STI Hedge Fund is because the rules prevent me doing so. You are under no such rules so keep it on your watch list and when a selloff occurs jump in.

 

TCAP, Triangle Capital, which I suggested as a buy a couple of days ago as well has continued to move up form the $16 buy to now just over $17 per share.  This stock will continue to pay you nice dividends and likely some capital gains as the underlying business produces profits going forward.  Like the stock above look for a pullback to around $16 and jump in for some nice profits. Again TCAP does not fit the rules for our fund so we will not consider it but do not let that stop you from considering it for your portfolio.

 

Another capital gains opportunity still lies in CTL, which I like even now at around $36.50 on a continued uptick in price.  The dividend still strong at around 8.0% adds juice to your buy.  I suggested this stock about $3 lower and expect another $5 to $7 up when investors consider the true value of this company and stock. In the meantime the dividend beats a CD and any US treasury and is secure via a double covered cash flow.  I own a sizable position in CTL.

 

If you are a risk taker consider BP, yes I said BP.  This company is continuing to unravel claims from the Gulf oil spill and continues to add cash to it's portfolio of assets.  Knowledgeable people believe BP will get back as much as half the $20 billion set aside for claims since those claims are trending much less than expected. BP is also settling lawsuits against it's partners in the spill and just got a $4 billion settlement and would expect a couple more in that range. Not too much longer BP will be raising their dividend substantially due to pressure from pension groups in the UK and when they do so this stock will rip nicely in price and add some capital gains.  Again wait for a buy closer to $40 and wait. You will get almost a 4% dividend now while you wait. BP does not currently fit the rules for inclusion in the hedge fund but remains on my watchlist.