RE: C$22.34.......... Joefongo
On Friday KFS quickly hit $22.48 and it was downhill from there all day and should have closed at $21.83 but after hours trading moved the price to $22.07. ( as you say it did well (manipulation?))
I noticed selling dries up under $21 and comes out strong over $22. I suppose this reflects the fact that on the downside KFS's share repurchase plan kicks in under $21 and tapers off over $22 whereas played out shareholders are of the opposite nature.
It makes for a good trade if one buys at $20.50 and sells at $22.25.
I think KFS will have a good 1st quarter. On looking at Q4 results their reserve strengthening applied to business written two years earlier and should not re-occur. Definitely not in Q1,Q2 or Q3 anyway. Without this strengthening their combined ratio was quite favourable and indicates to me that 2007 may be the year we see meaningful improvement in KFS's combined ratios which in turn will be a powerful contributor to the bottom line. $3.00 plus for 2007 is my guess.
If your wish comes true I am happy to buy more and make a fairly quick trade.