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Cornelius Chan Blog

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Weekly Bargain Bin Blue Chips Update Q1 Week 11

Pop1436 views  2012-03-16 18:22

The DJI went up +2.39% this week, up +6.73% for the year. For the most part my bargain bin blue chips have fluctuated inconsequentially with one notable exception: Veolia Environnement (VE). The French utility increased by $2.18 from last Friday's close, up +14.79% for the week and up +66.37% from its all-time-low of $10.17 last December. VE hit an all-time-low of $10.17 on December 19 last year, which along with Societe General (SCGLY) are my two French bargain binner's.  I am surprised to not hear more about VE on the value investing sites. The stock is still 58¢ below my preset buy price of $17.50.

A new stock has been added to my list of bargain bin blue chips: Sharp Corp. of Japan, the manufacturer of electric telecommunication, electric and electronic equipment. The Company makes liquid crystal color televisions, projectors, digital versatile disc (DVD) recorders and various telephones; health and environmental equipment, including refrigerators, microwaves and air conditioners as well as information equipment such as handy terminal equipment, electronic registers, information displays, copy machines, liquid crystal display modules, solar cells, parts for satellite broadcasting, regulators and optical sensors.

Sharp (OTC:SHCAY) stock hit a low of $6.43 during the financial crisis and climbed to $13.30 in early 2010 before beginning its slow descent to its new all-time-lows, where it now sits at $6.08. I read in MarketWatch that the company had problems adapting to changes in the new iPad specifications in time for shipping (they were supposed to supply Apple with screens last December). This problem of Sharp's has been good for Samsung, the other supplier of iPad screens. I don't know what Sharp has to do to improve its stock price or how far the stock price will fall before it bottoms out. My preset buy for Sharp Corp. is $5.00.

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