Today we have a short “special situation” recommendation from Joseph Parnes’ Shortex Market Report.
“Limoneira Co. (LMNR, $22) is engaged in agribusiness and real estate development. Its real estate operations and harvesting of lemons and other fruit are jumping. The quarterly dividend was pumped up by 20% to $0.0375/share. The recent ascent is being met with correction/retraction.
“Primary support is at 19.80-21.60. Buying Range: 19-23. Near-term Objective: 26. Intermediate-term Objective: 31. Stop Loss: 17.30.”
- Joseph Parnes, Shortex Market Report, October 31, 2012