Friday, August 31, 2007

Migao - Too Much, Too Soon?

Migao has bounced back nicely since its recent low of $5.51 during that wild session on August 16th.

In two weeks' time, the share price has jumped back up to $7.82; that's almost 42% in two weeks! For this reason alone, I decided to sell my Migao shares today and wait for a re-entry point later this year. We'll see how this decision turns out.

1 comment:

White Eagle said...

Well just my luck, Migao went as high as $8.77 today, closing at $8.61 (up over 10%) for the day.

Sigh... so much for my risk management technique (in the short term). Let's see how it will turn out longer term...