Just bought 250 shares of (Nasdaq: TITN) at $16.28. Just a $70 million marketcap, great earnings today and agriculture plays are hot. Oh yeah and the chart is breaking out bigtime. I’ll have more later, but I suggest you do some DD ASAP, I want $2-$3/share on this one!
Update 1: I really am the kiss of death–within minutes of me going long (shoulda waited til the close to buy, but thought it was breaking out of $16.40, so I didn’t want to miss it) the Dow tanked 50 points. Oh well, TITN holding strong at $16.10ish–possible topping action. Hopefully we’ll get a squeeze into the close for the overall market and TITN or else we’re looking at breaking through the recent lows and having a Black Monday, aka not a great time to be long a stock that’s up 25% on the day!
Update 2: Sold my 250 shares at $16, $80ish loss, no point in trying to be a hero here, I was wrong about the breakout, the overall market is crap and people can get scared going into the weekend. Not a bad trade, good for me for cutting losses quickly even if it does manage to breakout.
Posted in Potential Plays