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.