[This is a backlog for a previous trading transaction. It may not fully represent my thinking at the time of the trading.]
I bought 200 shares of NTBK at $10.20 in Datek today. This is the first trade I made in the US. This complements my earlier PPD purchase to make my Datek account fully invested as I anticipate substantial cash flow into the investment accounts in the near future when I start to work in the US.
NTBK has just fallen from its peak of $18 set in April/May. However, I think the company is fundamentally strong. I like the model of online pure play and can foresee its high interest rate should attract lots of value-oriented customers. The company had recorded impressive growth in the last two years and I have all the reason to believe they will continue to grow very fast. Based on earnings forecast, the $10 price tag is approximately 10x EPS, which is very reasonable to me.