Wall Street Journal: People Pulling Up To Pawnshops Today Are Driving Cadillacs and BMWs

By: TraderMark Sunday, January 04, 2009 9:03 PM

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Occasionally you get a thesis correct, but can't seem to find the horse to profit from. I've been on the pawn shop bandwagon since mid summer since I thought the economy would be far worse than the punditry. (Jul 24: Cash America (CSH) and EZCORP (EZPW) Both Report Today - Starting Small Stake in EZCORP) (Jul 10: Another Payday Loan/Pawn Shop Breaks Out on Higher Guidance - A Trend Seems to be Afoot)

I avoided Cash America (CSH) correctly - the Jim Cramer pick (ahem) (Oct 20: Cramer Jumps on Pawn Shop Bandwagon) - due to its heavier reliance on cash advance stores which have regulatory threats coming down the pike.

I went with EZCORP (EZPW) which is doing nothing but executing business wise (Nov 6: EZCORP - Executing Well, Raising Guidance for '09) but thus far in half a year, we have a whopping gain of $300 in the name. In the pursuit of perfection that's a bit frustrating ;) It is making a series of higher lows which is bullish but ... $300?

Meanwhile, another name I considered (I decided against buying a basket of names and just picked 1 stock) has taken off of late, adding insult to injury.

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