I set a first line price target of around 3 bucks then I sold enough to make my remaining position "free". I bought about 1/3 of what I sold back after the stock remained above 3.10. My second target was 6 bucks, and I will probably sell 3/4 of my position there but there is no resistance until around 7.5. My only issue with holding the stock for the long term >5 years is the overall market. I think the market could drag this baby back into the 3s. It is worth every bit of 6 bucks...but a bird in the hand. This really is a great company. They sell something real and have solid management. I will definitely hold onto some to give to my kids.
7.5???? Was that (MERRY CHRISTMAS) $7.50 a share (DECK THE HALLS)?
Do you really mean to say that the next solid resistance point is seven and a half dollars???
I had been sondering if my figure of 6.75 was off and now I hear 7.5. This is great!
If the economy is really out of the woods a little and autos kick up any after the first of the year, and if, if, if ...
Realism settles in and I feel that we are due to slow in the low fives for a while if we get there. Time will tell but the company will have to do better and the light at the end of the tunnel be more clearly seen to really make it past the mid-fives in the short term.
I still believe, and this is probably more conservative then many that we could see anything from 3.50 to high 6's in Jan/Feb of 2010. I lean towards the 6 level due to all the economic indicators out there, but we have to be rational about this. The current run is great but we can not rise this fast for much longer. This has to compact some or a takeover bid, or at least a play to get a representative on the board by a new larger shareholder could happen. In all cases the pps could rise. There are cases where it will not as well, and I am aware of those.
Trying to keep it real, but I hope for 7.5 and pray for more.
We hit 6 and I will need to warm up the sleigh and take it for a spin!
Great week, great stock, and great team on the board!
A continued Merry Christmas to you all!!!!!
Apologies to any who feel this is a pump and dump. I have not sold a share since I bought and will let you konw if and when I do. And yes I really do believe in what I say.
I do not think we will be able to hit this mark soon. Xmas numbers will be weak this year and I believe they will mess with oil pricing very soon. What better way to make up lost oil revenue than jacking up demand on seasonal American demand. We have one more good report coming and then a little wait for recovery again.We made good $ from not being afraid to invest in this company. Now it is time to be cautious. I am backing off in late October on most sectors. I will venture to financial areas in November. Once I see mortgages above 5%, the run to close deals will pump the financial sector for another homerun. Everyone here should of covered by now and some. This stock is driven by manufacturing sales and still to date not many are back on their feet. Just my two cents!
kz - Great call to designate some for the kids. That is the kind and parently thing to do, you are to be commended for that.
And it is ahrd to look a bird in the hand and not take it. But what you have done so far is the correct thing. You set a boundary level or a rule in motion. I buy here and I sell part at this point and the rest ... This is the discipline of the investor that allows them to remain true to themselves and have peace at night.
Sure some will ride the train longer and see more ups and downs, and in the end their bird in hand may be larger. But they are investing according to their boundaries, rules and levels. That is right for them. The idea is to make money and stay in the game no matter what the stock is.
But let me say this. What works for you works for you. I once held Sportsmans Guide as I have said here before and bought in the first time at neat five bucks. Sold out at 8. I felt with that stock I had gotten a great return in a short time and should take the bird in the hand. I sold. But I watched the stock and it looked better as time went on. The numbers of the stock were just too good.
I bought again at 7.5 on a dip. I again st a rule that I would sell within a certain time or if I got a double. A double was a dream but the comapny was just starting a new line of business and it looked great. I sold at just above 15 and took 110% and walked and sang my way to the bank. I reached my goal and was done.
The stock went to 32 and split 3 for 2 and returned to the 30+ when it sold out to a European outfit. I could have skinned myself that I did not leave half the investment in the company.
By doing what you say you will do, you are investing on your terms and doing it your way. Take some at certain levels reinvest in another great company and hold the rest for the future.
What you are doing is just what yo need.
Have a great weekend, more up could be coming!
PS - I'll post the general reaction to your post in another post.