Yesterday, I attempted to at least explain my reasoning for CYT's fundamentals. This is stock is not as sexy or poorly managed (or nearly as speculative) as ZOLT. It also has predictable earnings as opposed to HXL.In fact, given the rest of my portfolio, this chemical stock may be slightly out of character. However, the stock does move. Last year demonstrated that just because the sector is boring doesn't mean the stock won't gyrate. It has been restructuring and shedding some low margin operations, while using its massive cash flow to push out its Carbon Fiber group into the big time.
Technically, it was set up perfectly for earnings, sitting right on support. The earnings event confirmed a bounce and the stock took off plowing through the 50-ma. It wasn't until the last two hours of the day that it started to fall back some under massive sell presure from the rest of the market. The volume was exactly what I wanted to see. While I would have liked to get in a little lower, there may still be a chance to add this week.
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