With ARLP still stochastically overbought and all the postings about possibly more big sellers tied to the IPO still out there, I figure it was time to take some more chips off the table (my order was filled during midday). At least these shares were sold for a decent profit for the first time in weeks.
Now sitting on 100 shares with average basis of 36.69.
Stochastics are still very over bought. 13-day EMA line at 38.22, 50-day EMA line at 39.41.
40.27 +/- .56 38.89 +/- .54 38.11 +/- .53
I also sold 100 shares at 38.77 today in my IRA too, and still sitting on 100 shares with a basis in the mid-36s.
At this point, I'm more inclined to continue taking chips off the table and now booking profits until all this IPO stuff and all the selling issues finally clear the air.
If we get another sharp pullback like Monday morning when another big seller comes in, I may nibble on some new shares if the opportunity arises....
view any pullback as a buying opportunity....recommend to not trade in and out of this stock as the upside is very good...and, if you sell out, you may have to buy in at a much higher price....stay long