The reason I sold near the top yesterday is because I was personally disappointed that the news we had, important as it was, did not sustain that price the way I thought it should, or had hoped it would.
When I bought back at the bottom- and the bottom was just as temporary and brief as was the high- I was thinking of holding for another 1/2 to 3/4 gain. That wasn't to be. That was fine with me- no distress there.
However, I am not sure that I would even sell at a pop tomorrow at the open, unless of course it were really big, in which case it would be a given that there would be lots of profit taking, and thus a realistic opportunity for buying back lower. A pop tomorrow based on visibility and a stock coming into its own is a lot different than a pop based on pre market released news.....there would be less panic selling for profit.
Not only is this definitely not the old HDIE where there was some gain on news followed by a pull back to the old levels where it would then sit for a long time; it also is not hyped, and not yet so popular and so volatile that there are big intra day movements for really active day trading.
I see this as a long term investment that will give swing trading opportunities in addition to an overall, sustained and orderly progression upwards.
So, for tomorrow morning, I don't know. Things will have to be watched, especially what sort of volume attends which movements.
What's your take on this? |
