Turn Up Your Rad-e-o with CDL

We learned our lesson when we predicted the tumble in the now "defunked" New Century (NEW), after the head of Investor Relations of that one time NYSE listed company actually hunted us down and called to "clarify a few things", including the idea that NEW did not have much Sub-prime paper in the hopper.

Needless to say, we just pulled the post out of reflex, like a cat with a turpentined ass, and even retracted our posting, but kept the puts anyway, and bought a few more in the rest of the usual suspects in the mortgage lending space. We'll, long story short, it's time to take those modest gains from the these company's falling stocks as they have come to reflect the drop in Ninja lending by these mortgage sausage factories that were writing loans to everyone and their Golden Retriever, then packaging, stamping and roll them out overseas to grab up those petro dollars, and maybe the return on those new Chinese sky scrapers from Yield Hoes the world over.

So, we put our ear to the ground to find somewhere to make a forward pass over all the shit flying in the market right now.

I believe it was Van "the man" Morrison who said: "Turn it up, turn it up, little bit higher, radio Turn it up, thats enough, so you know its got soul Radio, radio turn it up, humLa, la, la, la...


Citadel Broadcasting Corporation (symbol: CDL), which you've literally heard of if you ever tuned to 77ABC or WPLJ in the New York radio market is trading at a p/e of 18, and yielding 16%. However, tis' true enough-- it's PEG, which reflects it's growth rate is bloated, at 2.88; but there again, we are talking radio, which is pretty long in the teeth, unless you believe broke Americans are going to start signing up for SAT radio in droves at $10.00+ per month to listen to potty mouths Howard Stern, Opie and Anthony and maybe even Don Imus.

All things together, I'm thinking these CDL numbers are like acid rock, man.

You saps might could do worse than to load up on CDL's TP, and get paid to watch ad rates climb as broke businesses try to reach out to broke consumers more and more by Rad-e-o. As always Mr. Phelps, tight stop loss orders will protect your expectation of quarterly income if CDL shits itself for some unknown unknown.