ZZ... That Joke Was So 5 Minutes Ago...

... do I have any new ones?

In fact, I don't. But I just got into a new position that involves many different types of mattresses. LOL. Look into Sealy Corporation (ZZ) and arbitrage me if you'd like. I got in at market, which was $2.79 a few minutes before. I tried to outsmart other people's prices with a buy at $2.33 in an effort to break its 52WL, but when it's this bid, you have to either get in at market or stay out. And I opted to pay up for this trend ticket and got in. This one just hit its 52WL in August and the past few days, it's been very bid with bid sizes greatly outshining ask sizes by a large margin.

I proudly jumped the queue at a cent greater than the most recent bid price, so tomorrow's market action will tell whether I did the right thing or whether I was too optimistic with trying out a new position with so many beds at stake. Sealy's new line: the Stearns & Foster Luxury Latex Line. I wonder what that's all about. Apparently, it's all about unsurpassed comfort. Hmmm...

Why did I choose this balance sheet over the others in the queendom?

1. Trading near its 52WL and its 52WH is at 4.24 - which means I stand to gain almost 52% if we hit the 52WH and my bias is that we'll break above it... perhaps it might even hit $7.50!

2. Placed in a sector that has been greatly overlooked. The mattress is the last thing you think about replacing in a downturn. But now that prospects have gotten a lot better over the past few months, people who haven't been taken out of the job market yet will think about doing something about those sleepless nights.

3. Strong revenues... P/S is only 0.22... number of shares outstanding considered low according to my standards

4. Distribution in the Americas and Europe, which I think will really take off based on my First In First Out economic recovery principle

5. Although in debt with a negative book value, has net income available to common shareholders

6. 50 day SMA is above 200 day SMA, which means it has the potential to trend even higher.

7. Earnings out on 28 March 2011. It may be a little bit of a wait, but this is a high beta stock we're talking about.

8. Daily bid and ask spread is high, which means I can even do some day trading with this stock if I am so inclined.

Other than that, report card for the day:

+0.78% on the SBA

+0.79% on the Roth IRA