FRPT
1. Stock has had an absolutely phenomenal run for the past year. Even accounting for the occasional retrace, it has not had much of a break. This one was due.
2.<sarcasm> Much to everyone's surprise, FRPT did not win every order for vehicles by all the armed forces, not to mention the British forces. Who would have thought that the government would want more than one supplier? </sarcasm>
3. Insider selling, for whatever the reason is usually a sign we are near a top.
4. Technically, we had a nice double top there in the 30's.
I've had this in my "core" account for the past year or so, but sold it all after that last pop to 30. As usual, I was late to the game so I didn't get the best price, but hey, this one has been good to me both as a trader and a long term hold. (My definition of long term is something over a month.) Unless the company gets bought out (no, I have no information there, nor do I wish to start any rumors) I'd say the easy money has been made. It is now simply a trader, but with plenty to be made there. Look for a good earnings run.
Now I've got to go out and paint the deck while the weather's good (supposedly 80's today in PNW).
Later,
Jay
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