Still enjoying the breakout!!!
Richard, opportunities like this don't come very often. It is ridiculous to sell a position in a company that grows this rapidly in case it's stock price might pause a bit before it has another run. What often happens is the stock price never falls back to where someone sold it and this person is often too proud to admit they made a mistake to buy it back at a higher price.
This is a fundamental breakout, not a technical breakout. If this company stays on track, like it has so far, and there is no reason to think it won't, the price is at least going to double from here again in 1997. What else are you going to buy with the shares that you sold that will provide you with that kind of return, I would like to know.
The selling technique I use is to tell myself that if I had never heard about this company before today, would I buy some shares at this price. If it is yes, I hold, if it is no, I sell and look for something else. In the case of Anadime, if I had more cash in hand, I would buy more. I beleive that with this current runup, the shares are fairly priced, perhaps still a little undervalued considering it's future prospects. But what will it be worth a year from now? Probably a lot more. This company is finally getting noticed buy investors and was grossly undervalued before this runup.
Good luck, Alain... |
