Paul, don't worry, this balloon has a lot more air left in it! I have a similar position to yours, buying in around 12, 17, and again at 19. Remember, this stock was mid-twenties just a few months ago. A lot of the recent decline is not only year-end profit taking, but claiming tax loss as well. This company still has a lot of momentum on its side (think of it as potential energy at this point).
I look for a point or two on the January effect, then a slow, steady rise to low 20's over the next 2 - 4 weeks. It will then stabilize as we await next quarter's earnings. If the next Q again exceeds predictions, then look for low 30's shortly afterwards. Almost everything is in place: superior products, vision, alliances. Once the earnings follow, this one will skyrocket.
Happy Holidays,
rpm |
