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12/28/2016 8:24:06 AM Eastern Time

People Are Pumped
By Charles Payne, CEO & Principal Analyst

 Click here to download PDF version

So it didn't happen, and in a way, that might be a good thing. The fastest 1000 point move in the history of the market happened back on May 3, 1999, when Dow Jones broke 10000 then raced to 11000 in 24 days. 

Those were very heady and exciting days, but the market was feeding on itself as new highs beget new highs. These days there is still a fair amount of skepticism in the air and so many Trump fans remain intimidated by the stock market.

(The craziest thing is people are cheering the recovery of America, but are reluctant to participate, other than hoping for more pay.  Wages are going higher, but money under the pillow loses value daily.)

We want to feel sentiment surge initially, but then it must be followed by the actual performance of the economy- and all the pieces are in place for this to happen.  First, the confidence must be in place because the kind if success we are looking for doesn’t occur through luck.  People are pumped.

The confidence number from Conference Board came in 113.7, the highest since August 2001, driven by anticipation over jobs, business conditions and the stock market.  

Yesterday, we saw rotation into materials and information technology, and consumer discretionary names are oversold from last week’s scare following that big miss by BBBY and lower retail sales data.



Long Idea: Ubiquiti Networks, Inc. (UBNT) @ $58.38
Industry: Technology; Wireless Communication
Click here to view the trading alerts that followed this recommendation

Trading Parameters
Status Closed
Entry Price$58.38
Entry Limitsee comments
Stop LossN/A

BACKGROUND: Ubiquiti Networks, Inc. develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing. Its enterprise product platforms provide wireless local area network (WLAN) infrastructure, video surveillance products, switching and routing solutions, and machine-to-machine communication components. Its products and solutions include radios, antennas, software, communications protocols and management tools that are designed to deliver carrier and enterprise class wireless broadband access and other services primarily in the unlicensed radio frequency spectrum. Its service provider and carrier solutions include Base Station/Backhaul/Customer Premise Equipment (CPE)/Bridge-airMAX, Network Routing Platform-EdgeMAX and Point-to-point Wireless Backhaul-airFiber.

SKINNY: The stock has broken out above its 50 day moving average and earnings estimates have been increasing. Our longer term target is $68.

Key Fundamentals
PEG  1.67
Book Value  9.43
Institutional Holdings  35
Price/Sales  6.72
Average Daily Volume  448.57k
Shares Outstanding  82.13m
Market Value  4.84b
Insider Activity  65.96%
52-week High  59.43
52-week Low  25.75
Annual Earnings Estimate  2.74

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