As I've said before, I enjoy tracking the stocks I've sold, and take great pleasure in watching them fall. So, you can only imagine my daily pain in watching Capstone Turbine (CPST) go from $1.20 on January 22nd to a high of $2.87 this Monday. Yes, I've missed out on a 139% gain in less than three months time. It has progressed from mild irritation, to general disappointment and regret, to "I can't watch this stupid stock go up day, after day, AFTER DAY!! I give up, Capstone! YOU WIN!!!!!"
With that personal capitulation, I bought some CPST this Tuesday at $2.65. It's now at $2.80, but its momentum could break down at any time. This is all very similar to the way I've traded Terra Nitrogen (TNH) - I'll no doubt be DCA'ing my CPST position in the near future.
To fund this, I closed out two of my smallest holdings, Alliance Resource Partners (ARLP) and Nokia (NOK). It was a numbers game, but I have to question selling a coal stock whose lagging perfomance could mean catch-up returns are coming soon, and a world-class designer and manufacturer in the global secular-growth industry of telecom. Both stocks had nice dividends to boot. And, the early returns for ARLP and NOK since I've sold are up 8% and 4% respectively.
But hey, if they go on to double, I can always buy them back again.
