Interesting perspective. I like to buy low and sell high. You want to hold at current levels but sell if it goes lower? If you would take $15.50, why not sell now at $16.00 and get and extra 50 cents? Just sayin'
I'm paying attention to volume. We've been well above average on up days, and below average on days when the stock pulls back. No stock can go up every day, nor can the market. But, my long run view is that the economy is recovering, and stocks will continue to do well in 2011, with fits and starts. CQB will outperform the broad markets and could break $20 this year, IMHO. Good luck!
Book, I'm sure you are watching closely. CQB is drifting down on unusually low volume. It may hit $15.50 today (or not).
Should you sell if it does? That's a decision you need to make for yourself, and if you do, a week from now you will either be gloating or kicking yourself.
But, here's one piece of advice, regardless of what you do. If you want to sell if it breaks $15.50 and you are able to sit and watch the ticker, place your order at that time.
The reason I say this is that the specialists can see a stop-loss order, and if there are enough of them in a string(e.g: 15.49, 15.45, 15.40, etc.), they will walk the price down, pick the cherries, and the price will go up after they've got their fruit basket. I've seen this time and time again.
So, if you place your order real time instead of doing a stop-loss, it's invisible. This is one way that small investors have been reamed for years, and of course brokerages actively encourage people to put in stop-losses. Of course, no surprise as to why they do so. Good luck, however you decide to play it.