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Stepping Into Opportunity

Another lower opening means it's time to buy more of this holding.
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Citrix Systems (CTXS) has opened lower once again Friday morning, and it's time for me to pick away at another 200 shares. Management had an upbeat tone at Thursday's investor meeting and will be presenting at four brokerage conferences over the next two weeks.

The company has complemented its core network access software with savvy niche acquisitions in recent quarters. Most notably, the web optimization business NetScaler. At $38.71, Citrix is 11% below my cost basis, but I believe the Nasdaq is finding its bottom, and that the stock can recover back into the low $40s in the near term. This purchase will give me a total of 4,500 shares of Citrix, or 4.6% of the overall portfolio.

Regards,

James J. Cramer

DISCLOSURE: At the time of publication, Cramer was long Citrix Systems.

Send email to james.cramer@thestreet.com.