Edward, you have a great memory. I think I had mentioned it as beaten down stock that AT THE TIME, had some opportunity..it was 4, 5ish then. Popped nicely yesterday...I was selling yesterday and will finish my selling today, regardless of what happens with a 50%gain. A great position trade. Took a little longer to come to fruition.
Great recollection! Did you buy it on my suggestions? If so, I am glad it worked out....thanks for not razing me when it fell from 5 to 4 1/2...lol!
Anyway, 30% is a good profit. I usually like to hit singles and doubles with cheapies and move on to thenext. I had one client who I had suggested it to and bot about 5k and made an 1/8 or 1/4 and wanted out. Yet when the stock moves against him, he hangs in there too long, against suggestions. There is a vulgar phrase for that, "eating like a bird and crapping like an elephant"..meaning you trade for 1/4s and 3/8s profit but let your loses fall points.
I will be out today, except for one or two thousand shares which I will keep for good luck and maybe write calls against.
But I must also tell you that Bernie and i had about 20k shares of LCOS each when the stock was about 6, 6 1/4....we traded out for 1/2 point gain...we thought we traded that perfectly, 1/2 pt. on 20k shares, not bad! At the time, looked good...Stock is 43 today.
Consider thinning out a bit, sell some and leave a little, or take profits, move on and dont have second guesses.
Regards,
Steve@yamner.com |
