Re: "I think you might be a little early (by 2-3 weeks IMHO), but it looks like you have good plan. Stick to your discipline. Make sure you're out before earnings. Are you planning on moving your stop up as earnings approach?"
Yeah, it might be early, however there's now a rumor that SyQuest might release their earnings before the end of the month. What really caught my attention were the recent high volume days. I believe we're seeing some conversions here being offset and swallowed up by some aggressive buying (short-term bullish IMO).
I think there are currently two likely and simple scenarios as earnings draw near: 1) the stock price stays relatively flat for the next month because the potential positives are already built into the $3 price, or 2) we continue to trend upward a little bit. Any bad news is unlikely over the next few weeks, and thus the downside risk of a short-term play is limited IMO.
In any case, you can be absolutely certain that I'll be 100% out before earnings. And yes, I'll be adjusting my stop as time ticks away (FWIW, when I'm actively trading large quantities, I typically adjust stops and goals quite often).
BTW, Welcome back and hope you enjoyed your vacation. (and don't forget, all your good buddies on the Yahoo! thread are anxiously waiting your return. I read a few posts over there and it appears they've even named a special award in your honor). <g>
Regards - Dale |
