Wow, after a nice run-up yesterday, SIRO gives it all back. ALL. That really pisses me off. But at the same time, it’s kind of funny. I’m a little tempted to add here, but the profit-taking could extend so I’ll just sit tight. Still in the green on this revenue rich company. Just keep in mind that today’s 2 point decline is all on the news, and it wasn’t all that bad of news anyway, just some extended offering. So what do you do from here? Take note of today’s high (35.65), and that’s our 10 trading day goal. I like these sell on the news type stocks because they usually get back to where the selling started and continue their run from there. The only problem I see here is the dilution of SIRO. I was never a great fan of secondary offering because it always seemed a bit cocky or presumptuous and that tends to bit back.
Other:
– IRBT is approaching long term short entry point = 17.69
– GMCR the coffee king continues to make me smile at night
– AFAM reports on the 24th … expect fireworks. Great earnings play.
– GTIV new on watch list
Ciao!
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