Purchasing Commerce Bancorp Inc.

Posted on October 6, 2005 , filed under Stocks | Print This Post

Today I purchased 1000 shares of CBH, Commerce Bancorp Inc. at $28.87. Commerce Bancorp, Inc. operates as a multibank holding company that provides retail and commercial banking services, as well as corporate trust services for consumers, and small and midsized companies in the United States.

I believe Commerce Bancorp, WM, Washington Mutual Inc. and WB, Wachovia form a group of banks that have revolutionized the retail banking experience. Commerce bank operates in the Northeast of the U.S. and is opening a large number of new branches. I believe greed and speculation has lead traders to short the stock over concerns of lower than expected 3rd quarter earnings and a downgrade made by Oppenheimer. The price of the stock has fallen quite dramtically and is trading close to its one year low. I have a bullish view on Commerce Bancorp and believe the current quarter earnings are not indicative of the long term profitability of the company.

Symbol: CBH, Commerce Bancorp Inc.
Intelligent Investor Strength: 7
Chart Strength: 8
Speculation and Greed Strength: 8

RawGreed Strength Rating: 7.75

Target Buy Price: under $29
Target Sell price: $32 within 3 - 6months, $35 within 6 months - 1 year.

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3 Comments »

Comment by Frank

2005-10-06 21:24:56

Thanks for the tip man. I was planning on buying 100,000 shares of CBH, Commerce Bancorp Inc but was a little unsure. Your information has increased my confidence level and I am going to do it.

I agree with your speculation allegations and have some further speculation information -> http://gotfrank.com/stockpicks/?p=130

Thanks again.

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Comment by Andy

2005-10-06 22:32:19

Hi Frank,

100,000 shares? That would be 2.9 Million worth. Too many 0’s?

I got some good ideas from Technicator.net.

Best,

Andy

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