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Technology Stocks : Stock Swap

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To: Papillon who wrote (16089)1/20/1999 12:20:00 PM
From: Trader X  Read Replies (1) of 17305
 
Some thoughts on hanging on to a good thing.

The latest happenings with XCIT just reminds me of some old wisdom that we tend to forget in the daily stock trading grind.

I had XCIT @ $5 1/2 just 2 years ago this month, and sold it after a 60% gain in 30 days. I was pretty happy with my return. The stock sold off back to $6 (pre-split), and I passed on the opportunity to reenter at that price. Within a month it took off. Just ask Robin. She was about the only other person interested. Remember her?

I knew XCIT was going to be good, lots of analysts were hopping on board back then too. But I was cursed with an itchy trigger finger and failed to hang onto what would have been a home run. I could be buying my new home with cash made entirely off one XCIT trade.

Moral: hell if I know, but it seemed like a good story.

TX
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