Technically starting to move forward with growing on balance volume, it's an easy pick once overall market sentiment becomes less volatile, which will be near when VIX confidently passes 32.
FFH will continue to benefit from the credit crisis as they hold strong positions anticipating downgrades of credit quality in certain businesses. Their Nov earnings release is the beginning as many new downgrades have appeared in late Dec and early Jan which will show in 4Q 07 earnings to be posted mid to late Feb. Their earnings surprise from 3Q is a precursor to a new 52 week high in light of the recent credit downgrades, which drives up the gains of their credit default swaps.
Trading at less than 8 P/E with big prospects for growth, it's a buy.
$296.23001 (01/20/08)
