Wednesday, January 31, 2007

Sold Ingles Markets (IMKTA) Today.

I've grown to hate earnings season. Especially when I'm holding a stock that is moving up fast. I feel that IMKTA, which reports tomorrow, will have good earnings but not good enough to warrant the recent climb. I would hate to give back all my gains on a "sell-the-news" reaction.

I'll look to get back in when the 50 day moving average catches up to the price, or vice versa.

UPDATE: Ok, so I missed some big time upside by selling yesterday. The ABC structure will be done at 39 and then IMKTA should pullback to the breakout point. I won't kick myself too much for a profitable trade, but I hate earnings season!

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