Savvy Trades and Investments

[wadegarret]

Value- ANGI

A fibonoci retracement doesn't have to happen now. The stock may go to $9 or $10, and then retrace 60% of its gains from $5- who knows. However technicals should never trump fundaments. Right now, ANGI is worth around $11 IMO. With the stock at $7, I would never sell it based on the speculation of a fibonoci retracement of the gain from $4.90 to $7.90.

The only time its worth selling a stock and speculating on a fibonaci IMO, is when the stock is only 10%-20% from your target, and has already gone up 50%+. The stock going up 58% on earnings day does not in and of itself justify selling.

By the way, my largest short term gain of all time was PEIX, and I used this exact reasoning in deciding to sell at $23.50, as I had a $27-$28 target on the stock at the time.