SP has gone from $12 at start of year to $25+. We saw a similar run last year which was followed by the SP retreating back to the 200 SMA (from $23+ down to $10). I'm expecting something similar to happen now and therefore sold all my shares at $24.80 on Monday. I've been holding since the Touchcorp days and still bullish on the fundamentals long term but in my view the share price has overshot and a correction back to 200 SMA is due. Hoping to re-enter lower but ok if that not happens.
It's somewhat strange not holding APT anymore as it was about 70% of my portfolio and I'm still a big fan of the company and its management. But as Benjamin Graham said: 'A great company is not a great investment if you pay too much for the stock'.
APT Price at posting:
$23.34 Sentiment: None Disclosure: Not Held
