OK...So I had to do it...Sold 70% of position today in BWEN....I found the reason why I think we went much higher over the last 2 days in this one....Not J. Gendell buying more shares (he did not)....but ET's favorite contrarian indicator Jimbo Cramer pumped it on TheStreet.com...All aboard from him means to get out to me.....Thanks for the liquidity, but No thanks Thanks for the move as I will look to re-enter around 15.... http://www.thestreet.com/_yahoo/vid...HOOV&cm_cat=FREE&cm_ite=NA#1541043705 $COSTAverageMAN
As a bit of an aside - I honestly belive the market (smart money) has priced Cramer in... or at least his rants. I recall a year + or so ago when he came on at 3:00pm with his pick of the day. I was short 10Kof MU at the time. I literally dropped my pen, picked it up, then looked at the stock to see if up 50c. Total B.S. I didn't realize until later that this is why it moved... anyway, I'm usually more careful in similar environments. Anyway, you'll probably get 15 sooner rather than later.
Had to dump the last 30% of the position in BWEN today...Just couldn't help myself....What a nice move recently...No need to be piggish........Well since 15 is out of reach...I may look to re enter in the 19's, but dang what a move..... Love that Gendell and his wind energy plays....MTZ (Mastec) another way j. Gendell and myself are playing wind energy, got the Cramer pump on Friday.... You know I had to take some of those gains today as well....
UP alot good pick but the problem with OTCBB is that you can't plow much money in it because the stock could drop 10-20% in a single day for no reason and you may never see your money again. Thats what happens with a lot of stocks.
Had to go nibble back on some BWEN today at 19.XX....The patient man I am had missed that nice little move from 23.xx were I sold up to 27, but hey look I got some today at 19.XX ....In my book that is a win any way you look at it..... On a side note had to close part of the MIGL position on it's move the other day..... $COSTAverageMAN
BTW....look at this post......from this section 01-23-08 04:36 PM J. Gendell and myself are also playing MIGL.... MISCOR.....another wind energy play Who was on here in January talking up wind plays.......Now (The Tube/Cramer/Wall Street) can't get enough of this small sector.....