Long Position on CONN @ $76.56 on 12/17/2013 (Momentum)

Conn’s, Inc. (CONN) is engaged in the specialty retail of durable consumer products in the United States.

The company’s stores offer home appliances, which include refrigerators, freezers, washers, dryers, dishwashers, ranges, and room air conditioners; furniture and mattresses comprising furniture and related accessories for the living room, dining room, and bedroom, as well as traditional and specialty mattresses; consumer electronics, such as LCD, LED, 3-D and plasma televisions, Blu-ray players, home theater and video game products, camcorders, digital cameras, and portable audio equipment; and home office products, including computers, tablets, printers, and accessories.

It also provides repair service agreements and installment credit programs, as well as various credit insurance products, such as credit life, credit disability, credit involuntary unemployment, and credit property insurance. As of November 27, 2013, the company operated approximately 70 retail locations in Texas, Louisiana, Oklahoma, New Mexico, and Arizona.

Shares have formed a bullish "flag" following the company's better than expected quarterly results. Higher share prices are expected.

52-Week Trading Range: $27.44 - $78.46

Entry Point: $76.56

Stop Loss: $72.70

Target Price: $84.20

Updates

1/10/2014 11:01:06 AM

This position has moved against us.  We are going to realize loses and close this position. 

Position closed on 1/10/2014 at price of $69.90 with a -8.70% loss in 24 days.

Back to Portfolio