Grass,
It's your call. That seems to be a pretty sizable position to have in one stock unless you have millions to your name. My indicators are telling me after the last 2 days days of trading that OO's new support is now 12 1/2 to 12 7/8. The market tanked hard on Friday, (and should do the same tomorrow too), but OO held up extremely well considering the selling frenzy that was occuring. When the big name stocks that have moved up so steadily and for so long start to downtrend (which they will now start doing), investors will look for stocks that seem to be strong lately, and are at relatively low prices compared to previous levels. Oakley would fall into that category, in my opinion. I think upside momentum will start to pick up even more soon, and fully expect an upgrade for the stock in the near term. Sizeable positions are being taken, and they are not taken to sell for 3/8ths of a point as you are debating doing. Also, unless you use Aufhauser, or one of the other annual fee trading brokerages, you forgot to consider commission costs in your calculation. Daytrading works well for 1,000 to 5,000 share blocks, but not 12,000 shares. You are simply risking too much capital. On the other hand, if you have a longer time horizon in mind(I think you should adopt this concept), then why rush to sell for such a small gain? Why not hold it until it hits 16 or 17. I expect that to happen before next earnings with the momentum that is on Oakley's side. That is a much better gain, but as I said before, it's your call. Whatever happens, it's always your decision.........Good Luck, Jeff................. |
