MR (Mindray Medical Intl)

Mindray had a successful IPO in September of last year. It priced at 14 but has never traded below $15. Its initial run lasted 3 full months taking it above $27. Since that time the stock has pulled back to consolidate and the company has filed a shelf to offer more stock. The deal should price this week and yet the stock is running up into the deal. This is indicative of pent up demand and is a very good opportunity with lower risk.

Yesterday (29th) i bought 5,000 shares which is about a 1.5% position (i am initiating my positions on the smaller side right now because i am less comfortable with overall market conditions.) I expect a nice run after the deal is complete and will hold as long as the price and volume trends are constructive.

Feb 10, 2007

I was very impressed that while the overall market was having a rough day yesterday, MR traded strongly with volume coming in above average. That follows 2 days of consolidation in weak volume which is a great pattern. I have additional capital to manage and am looking for opportunistic places to put that to work so I increased (doubled) the size of the position buying an additional 5,000 shares at $25.86. I look forward to seeing if the stock can break to a new high as IPO's and secondaries are working well as a general rule.