Selling – Speak of the devil…

  • Posted by
  • on October 27th, 2006

It is nice to see some people willing to finally sell stocks. It is healthy. As a matter of fact, I am selling some stuff today.

Just sold most of my Ebay. I still like this market but want the Ebay money to deploy to better strength and breakouts. I have limited stock market capital these days because as usual, my timing sucks.

Ebay was a bottomfish that I got right. It has been a huge winner for me from the mid 20′s. I was wrong on the Yahoo bottomfish but cut my losses quickly. EBay is much better but a 30 percent move in the stock in a huge downtrend is more than I thought and more importantly, MUCH faster than I thought. Adios.

Another bottomfish – one that I have no intention of selling is Navteq (NVT). GPS stocks are back in vogue and I thought this stock was being unduly punished at $25. I owned some higher as well and bought some in the mid 20′s. The stock is now back at $33. Seems to me that NVT is the Intel inside GPS software.

Have a great weekend. I am up in Toronto for the weekend and looking forward to seeing family and friends.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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