Sunday, February 14, 2010

Selling Gamestop

In an effort to adhere to some self-imposed stop loss rules I've put in a sell order on Gamestop GME which is now down over 20% from where I purchased. I can see both a long and short case for being in this company, but the short side is winning out right now. Cutting losses and stepping aside to re-evaluate.

Also looking at cutting Garmin loose, but decided to hold on for a while longer to see what developes. There's so much downside priced into GRMN right now that I'll wait and see what happens. They pay a 2.3% dividend and the balance sheet is loaded with cash so I'll wait. The smartphones might be the end of them, but I'm not convinced of that yet.

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