What are you saying?
I have a core position. It's effectively dead money if I just sit on it. That has an opportunity cost.
Due to the 1.6 beta, the risk of a total or substantial loss over a long period is large. Especially if history of the company is considered. Add in the crap that our government does, world economic uncertainty, municipal budget problems (a potentailly large customer base), declining NG prices for an extended period, ...
Under thos conditions, it seems only prudent to garner some profits while waiting, rather than just sitting on your hands. Hard to pray when you are sitting on your hands and can't offset the opportunity cost either.
I don't sit and hope and put faith in other people, especially when their track record is bad.
As to your price target, may get there. But they've had lots of "almost there's" in the past and flopped in every case. That doesn't project the future, but does affects the assessment of the odds. Getting some protection in this scenario seems prudent.
But, different styles for different folks.
Bill
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