7 replies to this topic

[Jnavin]

Breaking above it's all-time high of 16 today on much greater than its average daily volume.

[greenie]

Thanks John. How do you decide a target, when a stock with such a short history breaks its all-time high?

[PorkLoin]

Hi Greenie,

Let me interject, if I may. Unless one has a crystal ball, (and a darn good one, too!), I don't think target projections are worth much in such cases.



SIMO reminds me of this next chart:



I realize there is no scale, but does there really need to be? How much higher is it going to go? Lots and lots of issues that have mega-moves start out like that. Uptrend City. Ain't no guarantees, and SIMO might tank on the morrow. Yet IMO situations like this are where you let your profits run. If one wants to buy, lots of times it'll go up a bit, then come back down and kiss the old highs, around the $16 level in this case. And sometimes it won't come back down. Sometimes it's best to buy right now and hold on.

Best,

Doug

[greenie]

Thanks Doug. I am planning to hold, unless this tree shakes me off the branch .

[Jnavin]

In a situation where the stock has been trading for less than a year, I don't set a target. I watch the sector index closely and set a target for that. Then, when the sector hits the target, I unload the newbie with the rest of them. If I can't find a specific sector, then I watch the sector that's most closely related. Does that make sense?

[Jnavin]

SIMO up 9% today. Took half a profit.

[Jnavin]

Stopped out on the other half last week at 14.75...but now it's back to support, looks interesting again.

[greenie]

Thx John for the update. I got out at the first sign of trouble...now it looks interesting.