For the same reason I was forced to take profit on Semiconductor company LSCC, I have done the same on gold mine developer AKG.
As with the LSCC media buzz, this is valid information and they are both quality companies. But they have been turned into trades on media attention. Selling LSCC was the right choice and now I’ll find out if doing so with AKG was. In trading… well, you know.
As with LSCC, I intended to hold AKG (as one of the few items I am holding w/ a short NUGT hedge) because I like the chart and I like the company. But isn’t it amazing how well coordinated the 2 day burst is with the release of this piece?
When the media insinuates itself and produces profit I take it. As the LSCC example proved, these bursts tend to get reversed fairly quickly as the day traders come flying out of the stock. I did by the way, buy LSCC back at a pullback target noted in NFTRH 346. Now, if only SIMO will reach its target.
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