I've been hyperventilating since February 9 when I bit the bullet and sold about 1/3 of my position. Given my sales averaging 26 1/4 and a 210% gain, my plan was to buy back at 19 but I hadn't realized the anxiety it can cause when you try to time these dips. With my goal nearing, I decided to partially ease my suffering today and bought back a third of what I'd sold, at 23. Hey, not great but it's real money. A down day tomorrow may allow me to gain some closure on this episode. I dare say I may not have the patience to wait for 19. There seems to be some rotation out of the smaller retailers with HOTT, CHCS and CHBS all down substantially on the day. As usual, I see this as another great buying opportunity for HOTT.
I've learned 2 lessons from my journey into Trade Land:
1. I can't stomach "rooting" against our Company, and,
2. Trading demands a certain detachment of which I have precious little.
Veg, I hear what you're saying and I basically agree with you. I'm simply a long term investor at heart who is conflicted by the undeniable evidence that HOTT is a volatile, tradable stock. Without straying too far from my core principle, I'm giving an effort to take advantage of Mr. Market's errors. I'll learn.
IMHO, HOTT reflects every characteristic of a superbly run company working an exceptional demographic. I could never describe the basis for my opinion as well as the Board's more literate members who share my view. Until I believe these facts have changed, I will remain biased toward INCREASING rather than DECREASING my position. That's why my little trading foray stresses me out.
For some perspective, I've been blessed to hold 2 stocks for 11 and 7 year periods that have returned 7400 and 1700%, respectively. In hindsight, if I had held on to every split share and not "diversified", I would be much wealthier than today. Please don't infer any bragging in what I say. If anything, it's meant to support the idea that a strong horse like HOTT may be best left to run its own race.
And I got my next buy executed this morning at 21 7/8! I know how you felt, Mawchec, when I was essentially Hottless. But with this last buy, even if it drops further, I am happy to be back. I am in sort of a hedged position right now - waiting til it drops further to buy more and not minding a runup from here at which time I expect to sell again in the 28 range (which can definitely happen before March 13). For me, perfection would be if it dropped to 18, I get fully loaded, and then we get a nice run up again.