Not just daytraders imho. I expect BOW to go much higher and accordingly will hold most until this expectation is realised.
Nevertheless I took a few (about 1/8) off the table today at 88/89, only the second time I have reduced. Undecided whether I will buy back if they pullback much more. Probably depends on other opportunities.
In this market imho you just do not want too much on a single volatile stock, no matter what the strength of your conviction as to where it will be in 6 or 12 months (much higher imho). You need the flexibility to buy some of the dips.
For me the suprise wasn't the sell off, it was the run, which had obviously gone too far for the day on momentum - people like Steini buying it simply because it was rising (or gave significance to it having risen too far - for the day at least).
EL
BOW Price at posting:
82.5¢ Sentiment: LT Buy Disclosure: Held
