Good points being made by everyone who took profits today. There's nothing EVER wrong with taking profits and locking in some or all of those gains.
It's interesting to see how the stock-- though drooping a bit in the afternoon, likely in part due to all the profit-taking today that was openly announced by many folks here and at Yahoo's m.board -- still closed strong. Yes, even when the day's upward trend got broken late in the day, the stock hardly "fell off" but stayed consistently above .77 before closing up to form yet another "bullish"-looking candlestick on JADA's technical chart. And look at that 200 dma starting to move up, no longer downward.
This all bodes VERY well for a further breakout to the upside. As Millstone and i and others have pointed out, the concern by short-term traders about JADA getting near its prior "resistance" price at 0.80 doesn't seem logical, given the IMMENSE trading volume and buying pressure we're seeing this time around over many, many consecutive days in Feb-March.
Over 1.8M shares were traded today.
Look at a volume chart over the last several months -- extremely impressive to see all the heavy and continuing interest in JADA in Feb.-March. There's nothing like this sustained interest in JADA back in Oct., Nov. and into January. This, too, bodes well for JADA breaking above .80 and perhaps establishing .80 as a new suppport, especially if there's no announcement of a delayed filing of the 10-k.
Even if the 10-k doesn't come out right on 3/31 and the stock sags, my observation is that there is so much buying suppport for this stock among value investors (not short-term traders) that it won't dip or correct as much as the traders might think it will.
This stock will simply be positioning itself for a much bigger move up throughout the year-- again, assuming we have evidence from the co. of a "healthy recovery" in 2010-- something that management already was suggesting in the Q3 filed way back in mid-Nov., some four and a half months ago.
And recall that, at this "already excessively run-up price," JADA likely has a trailing P/E of just over 4 (assuming 2009 EPS of ~0.19) and a forward P/E of merely 2.5 (estimating ~0.32 EPS for 2010).
Is that an "overbought" stock? Not in my book.
Tomorrow will be an important day. So will the next day, March 31, the supposed last filing day for the 10-K. If JADA blasts through perceived "resistance," and doesn't dip too much if the report is delayed, and especially if we get a good-to-great earnings report this week or next, then we have FAR higher to run.
Anyway, enjoy all those profits. Who knows? Maybe you'll be re-buying soon.
In any case, good luck to all...