When a high value stock like TNGO pops, and you know that Europe is in a mess, and you know that May is around the corner, and you know that AAPL, which has been the market leader for a long time, is under pressure, you just have to sell.
It look like 19.20 was a good entry point, if I wanted to play again, but I'm still concerned about all 3 of the above points.
Don't forget that TNGO is selling at a P/S of 4, based on 2012 expected rev, pretty rich numbers.
I don't deny your points with regards to the other stocks, but how do you explain the large upward moves of last week. The downward moves in my opinion are strickly profit taking on short term gains. When the market reverses Tngo wiil continue it's climb, even in the summer!
I never try to explain things. I have hurt myself too often by over thinking things.
When I posted 19.20, I thot about it, and bot at 19.40, sold at 20.50, and then used that money to by PCYC, which I just sold up a buck.
Taking a fast pop is my religion these days, small stocks just seem to lose their way too fast.
As for your thot about the mkt reversal, that's today, and TNGO isn't close to the 21.60 I sold at a week ago.
I agree that TNGO could pop up a lot. I just have no confidence in our economy. I could blame BO (I do...), but all politicians have contributed to the out-of-control spending. Even in the coming election, even with the problems, they can't say they will cut anything.
This country has become a country of whiners and people looking for hand outs, largely bcse of things like the SSA parties, the folks just want their slice of the cake. It won't stop, and there's more trouble coming.
So I take fast profits! And I don't think there's any steady move up in the cards.