Happens almost everytime. I went long on a couple of stocks and am posting this on their boards to try to stop people from making the same mistakes I've made.
Went long yesterday and like the stock. However, I feel that a lot of people are flying a little too high right now and need to prepare for a small dose of reality.
Seems like stocks like this will always pull back after noon on Friday.
Day traders and momentum players will take their profits today and wipe the slate clean ready for next week. They don't want to be in a position over the weekend.
Plus, half the big traders will leave for the Hamptons at noon, leaving underlings in charge who won't be making any large plays.
In short, money will probably be hemmoraging from the stock in another hour or two.
Just be ready for it,don't let it discourage you and hold on. A bunch of people will lose all of their profits from the past couple of days but if you bought for the right reason- it won't matter in the long term.