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Non-Tech : Kirk's Market Thoughts
COHR 187.29+0.2%10:35 AM EST
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To: Jerome who wrote (1907)9/17/2014 1:47:17 PM
From: Kirk ©  Read Replies (1) of 26899
 
Market is fickle
My observation is that once stocks in denial break out of a well defined trading range....a lot of upside follows quickly.

One way to trade these stocks is to buy some call options about six months out and a few dollars in the money. If the stocks stay in denial you should get most of your option money back.
I look at buying calls as gambling. Fine for some but what if you are right about the stock but the market doesn't realize it until a day after your call expires?

Today I just took profits again on another of my stocks bought when I started my newsletter in 1998 that is well, well above past bull market highs. I feel half stupid for taking profits all the way up... until I look at all the shares I bought during the last two bear markets and other pullbacks with profit taking dollars.

One thing I've learned is they can go up AND down more than we think is reasonable given the valuation metrics... so look at it as opportunity to buy and sell for added return that we'd not get if they went up in a straight line.

Good luck with your calls!
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