We're near the bottom, but not just yet in my opinion. CCC has struggled to have 2 strong days in a row this year because of the immense selling pressure that the stock has come under. What we want to see is one final flush out of all this deadwood in a high volume capitulation day. I expect the tides to turn around in the high 3s, and that is when it will be time to go all in on Conti.
The company has fantastic fundamentals, is well managed, and will have a billion dollar market cap by 2013 in my opinion provided things go to plan.
My number one concern is how this consolidation will pan out in the short term, but my confidence in my investment remains as strong as ever because long term we all know Conti is on to a winner here.
CCC Price at posting:
45.0¢ Sentiment: None Disclosure: Held
