believe it or not....i made a point on that! bought yesterday at 51..sold a little above 52. luck..pure luck.
http://articles.moneycentral.msn.com/Investing/StrategyLab/Rnd15/P4/AllStarTeamJournal20070108.aspx A lot of people had e-mailed me to let me know they were following my biggest winner in the last round, U.S. Global Investors (GROW, news, msgs). Each week, as the stock kept going up, lots of investors asked, "Is it time to sell?" Though I look for doubles, I don't automatically sell when I get one. I didn't sell a single share during the round, and it was a good thing because after doubling, the stock kept rising to close at $63.59 at the end of the round last month -- nearly a triple. In the final week of the year, GROW was a huge winner. I sold half of my real-life position Dec. 29 at just over $72. Since Strategy Lab was on hiatus, I reported the trade on my Best Ideas Blog, so if you are a Marketscope subscriber or you signed up for the free trial I offered, you got the message. I still like GROW, but I reasoned that because it had done so well last year, a lot of people who would normally be selling GROW in December were waiting until January to push their capital-gains tax liability into the 2007 tax year. When sellers disappear, prices tend to strengthen, and GROW did particularly well in the last two weeks of 2006. I got a great price for my sell on Dec. 29. Sure enough, when the market opened in 2007, the pent-up selling pressure came out in force. GROW has taken a beating so far this year. Since the selling is motivated by tax reasons that have nothing to do with the company's prospects, I think this creates a great buying opportunity. Two of GROW's funds were among the top performers in 2006, and for the latest five-year period, their funds ranked Nos. 1, 3, 4 and 5. This kind of recent performance and long-term track record will keep assets growing and earnings growing even faster. That's why I originally bought the stock and why I still like it.
good article, thanks. I like it too, but not going to ride it down. it is nice that we are seeing some correction...helps me sleep at night knowing that things are normalizing.