Not Too Late

Sun closed the week out at $5.41 after dropping to $5.12 earlier in the week. The volatility continues apace. If you think it’s all straight up from here, you have fishing bobbers for eyes. There will be a time to own Sun again, along with some of your other favorite tech names, but that time is after the inevitable pullback. It will come and it might be big.

As mentioned a couple of weeks ago in this space (Jan. 21st – scroll down), I sold half of my position at $5.50. I’m still holding out to sell the rest at a slightly higher price, which I could have done shortly afterward but didn’t because I had my eyes on $6. After watching SUNW’s chart, I’ll be happy to get $5.70.

Do I intend to buy in again at a later date? You bet. It worked before and it’ll probably work again. Now with the dollar slide continuing on schedule, the Fed preparing to raise rates, and P/E ratios hovering at levels not seen since the iridescent top of everyone’s favorite bubble, booking our 60% three-and-a-half-month gain seems prudent.

This entry was posted in Uncategorized. Bookmark the permalink. Both comments and trackbacks are currently closed.
  • The Kelly Letter
    A Complete Investment Management System
    The Kelly Letter  every Sunday morning by email.
    Like no other. Many subscribers say this is the best read of their week, astonishing in its ability to distill seven days of noise into one succinct overview of the very few items that might matter. Start your Sundays right!
    A one-page Quick Start Guide
    with page number references to full information in The 3% Signal. You'll receive access to this right away so you can begin transforming your portfolio into a performance machine immediately.
    The 3Sig Calculator.
    A thing of beauty! You'll use it to generate your own personal signals every quarter including exact share amounts to buy and sell based on your account balances. It emails you the results to make later quarters easy by keeping last quarter's numbers at your fingertips. Some subscribers say this tool alone justifies their subscription price.
    The subscriber-only section of this website
    where likeminded investors are commenting on notes and discussing in forums. Jason joins these interactions every day. They're a treasure trove of investing tips and wisdom.
    The archive of Kelly Letter notes.
    It’s a research center, searchable and smartly tagged to make gathering time-stamped material on covered subjects easy.
    The subscriber podcast.
    Jason reads every letter word-for-word. This feature was requested by subscribers who prefer audio learning. They listen on their Monday morning commute, during a workout, or while reading along at their computer.

    Save 17%

    Pay as you go
    Or sign up to receive free email and learn more about the system.
Bestselling Financial Author