A few months ago, I was all over Titan Machinery (TITN). I predicted that the stock would make a 20% bounce up to the top of it's trading range over the preceding couple of months, and it did. Then, it went even further, making an all-time high above $34 in June, a week and a half after their last earnings call. I sold half my position at $31.50 during this runup.
TITN
Titan Machinery, Inc.
A month ago today, I first wrote about Titan Machinery (TITN), suggesting that a likely bounce of the 50-day moving average (DMA) would be good for about a 20% gain in a few weeks. I was wrong – it was good for much more!
Mr. Rogers (Kenny, that is, not the neighborly guy) has given us some timely advice that works well across many disciplines. I could write a long post using an overextended metaphor as to how the stock market is like a game of poker, taking bits of K-Rog's classic country song to illustrate various analogous situations, but I'll spare you. Suffice it to say that knowing when to hold and when to fold is key a key part of both gambling and investing.
Let's look at a couple examples.
I made a good call last Thursday. A really good one. I'm proud of it. I wonder if I can do it again....
It seemed pretty obvious to me that Priceline.com was gonna report some great earnings, for all the reasons I outlined in last Thursday's post. But there is always that little bit of hesitation that makes me wonder if I'm reading things right. Maybe there was a piece of information I was lacking, or maybe the information I had wasn't entirely correct. Such is the nature of the beast.
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