IPO's and New Issues

LL @ $10.98 (Lumber Liquidators) operates 111 stores in 42 states offering pre-finished and unfinished hardwood flooring. Revenues have increased between 20% and 24% during the last four quarters. Earnings have climbed 27% and 83% during the last two quarters and are expected to grow 70% this year and another 32% in 2009 to 0.96 cents a share. Lumber Liquidators came public in November at $11 and immediately traded lower, bottoming out around $6. Steady upside volume over the last two weeks has helped the stock hit a new high today. We are establishing half a position here and will enter the remaining half on a pull back to $9.50. Our stop loss will be set at $8.50. We feel this could be a great long term hold and will certainly add it to our Playbook 100 list.

Foreign Stocks

GNET @ $8.29 (Global Traffic Network) is an Australian broadcaster of customized traffic and news reports in Australia and Canada through 174 radio and 17 TV stations. Revenues have increased 68%, 73%, 80% and 60% over the last four quarters. They are expected to post their first profit in three years this year and grow another 150% in 2009. Volume has been heavy in this thinly traded stock over the last week. We originally featured this company on 4/24/07 at $7.07 and added to position on pull back to $6 and have held it ever since. Last year, four mutual funds were involved with this stock and today there are ten. We feel that makes this stock worth a shot for our more speculative accounts here or on a pull back to $7.50 with a stop set at $6.50 for now.

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