Typical, Why do you rate MIDD a strong buy? I've been a long term holder of this stock, but have not added to my position. I'm deeply concerned as the stock price usually reflects something bad about to happen. The market was up strong on Friday, yet MIDD went down. I don't get it? The retail investor is usually the one left holding the bag. What am I missing? I don't want to sell, but am seriously considering cutting my losses.
ntack- With all due respect, nothing in your post suggests you have been owned MIDD stock for long time. IF you had been, you would have enjoyed some fantastic gains and would not be so concerned about how a stock trades "short term" in a Bear market.
Investors who know Middleby Corp know why I rate it a strong buy.
Please wait to cut your losses until Middleby trades at $20...I will be there to buy everything you say you have and more.
I've held it since the middle of 2005, which is not "long term" by most definitions, but it's one of my longest term holdings. I typically hold a stock for 12-18 months. I first bought MIDD when Jim Jubak recommended it a long time ago. He later gave a sell rating and then recommended it again. I never sold it, but I did buy more lately in mid-30's.
I'm just saying that the stock price reflects something that hasn't yet surfaced. Before I decide to DCA down in my position, I want to know if you have any insight.