What you describe is something we've all done. As for me, I've taken too many profits already this year, and thus for tax reasons I am reluctant to sell much more this year, so I may ride this one out.
I think SGNT has so much momentum it will continue on up tomorrow. My short term target was 20, which has already been reached. DLJ has a target of 38, which I don't expect to reach tomorrow. <G> Seriously, the volume was so high, I think it will reach at least 23 tomorrow, perhaps as high as 25. At some point the volume will begin to fall, and the stock will top out and retrace a bit. It won't retrace all the way, though. After building a new base, it could make another step up this year if the broad market remains strong.
An alternative to selling it all would be to sell half of your holdings at say 23. That would recover your basis, and you could let the rest ride. I think the company has a bright future ahead, so I have no reluctance to holding the stock for a long time. An alternate plan would be to set a stop loss at 23 after it blows by there tomorrow, and then if it continues on up to 30 you won't sell.
Carl |
