The analyst downgrade that prompted the return to bear phase, discussed in this morning's post, isn't all that terrible.
Basically what the S&P Equity Research analyst says is that the stock has hit its valuation target, and so won't be going way higher anytime soon. They don't identify any specific risks going forward -- just the general risks of integrating new markets acquired last summer from Verizon.
I intend to hold my position over the weekend to see what develops on Monday. A significant break below the 20-day moving average would change my mind, prompting an immediate exit. (The price in the waning minutes of the day has moved down to $9.24, but I think that's just end-of-day trading pressure. It tends to revert upward each time.)
Tim Bovee, Private Trader tracks the trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.
No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.
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