A cup of JOE with no handle
I guess it doesn’t take too many blizzards to get folks interested in Florida real estate again.
When we last looked at St. Joe, it had just filled a giant gap before Christmas, said gap being brought on in October by David Einhorn’s strategic blasting of the firm’s prospects.
But JOE hasn’t stopped with just filling the gap:
It’s a good reminder not to engage in knee-jerk selling when a gap fills (as I am wont to do). JOE has so far blown right through the $25 level without pausing to form a “handle.” Florida always looks might good when its mighty cold out there!
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