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Selling My RACK Position
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RACK did report just OK numbers and the stock did pop like I wanted it too. It was acting so well that I decided to hold it even longer. RACK opened at $12.50 the day after earnings and I was up $1 a share overnight. For the next few days I watched it go up gradually and then pull back a little. It wasnt going to go to 15-17 range like I had hoped so it was time to sell.
On AUG 8th RACCK won some Linuxworld Award and made a change of directors which gave the stock a nice pop. It was time to get out and I sold half my position (150 shares) at $12.50 in the early morning.
I wish I hadn't because it kept going all the way to 13.50. I sold the second half at $13.10 and was glad to be out of this one.
Luckily this trade turned investment turned trade again ended in profits. I am usually not so luckily. One of these days I will stop doing that. |
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This site is not just a place for me to speak my mind, my goal is for these posts to be a catalyst for conversation. If I have stimulated some thoughts/ideas please be sure to contribute below. Dont be shy =)
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