to all who posted words of encouragement... I'll try to stay relevant and convey my meaning. Cateye: you're my watchdog. Thanks for volunteering. To borrow a line from Tennessee Williams: I frequently find myself dependent on the kindness of strangers.
OT to Zapzinger(?): I found out about PMTC from Chance. I agree that the bad news is out. I set my initial profit target at 25%-30% within 12 months but adjust based on how long I hold + actual price movement + earnings/growth actuals/projections + news + intuition. Sometimes I decide that a stock is one that I want to keep forever (don't know that PMTC would fall into that category). God, this sounds dumb. I'll give an example. I bought EWF (closed end mutual fund) late '97 when it was selling at a huge discount to NAV, hoping to make a 30% profit within a year. Right after I bought the price moved consistently skyward. I ended up selling at a 70% profit when the price reached NAV. I've made a huge profit on IBM but am hanging onto it for the foreseeable future based on my belief that the company fixed its problems. I've got a stock where the bad news just keeps on coming (RSND). I'm trying to decide now whether to buy more or just hang on. So far, I haven't had to sell a stock because it was a dog but my luck may run out. To me investing is like good writing and life in general, you need to be willing to revise your plan.
On topic: I have two strategies for SBUX since I hold it in both taxable and IRA accounts. If the stock gets seriously overvalued again I'll sell the IRA shares. I have no intention of selling SBUX in my taxable account.
(Cateye: I have a bad feeling about this post, but I;m not sure)
Hey Barb! Do you want to exchange e-mail addresses???----I don't want to be accused of "picking on you publically"...Of course, I didn't think there was anything wrong with the pragmatics of your msg....I am just trying to understand it! hahaha Cateye