With a week until earnings are due on Yirendai (YRD), there’s still time to buy. (March 06, 2017)
Yirendai ( NYSE:YRD ); a Chinese Internet company putting borrowers and lenders together. So basically I look at it as a middleman for loan sharks. That’s my joke, probably not that funny. But here is the thing: They report earnings on the 15th, that is eleven days from today. This stock is moving higher. My guess would be, and I have talked about this before, this has another 10 percent of upside in it, in my view, before earnings. It has got really nice momentum. You look at the volume over the last couple of days; it is all green baby. The stock has closed, for the last five days in a row, pretty close to the intraday high. This first turnaround day was actually the worst day relative to the intraday high, it was basically up 1.5 percent off the high. The next several days this was just about on the high. Really so was this. And finally so was this.
This is a stock that is under accumulation. Folks are buying this into earnings; I think you can buy it here. What you do with it in a week, we can look at that together prior to the earnings date. And that is actually what I will do. I will put out another Free video on Monday or Tuesday of next week and we will see how we are going to trade this. For the time being look, again, for another 10 percent of upside on this. I am long this stock and if it is doing what I think it is going to do I will wind up lightening up my position before earnings. Just because if you have got a nice profit in a stock, that is really what you want to do.