Garmin (GRMN) is down 11% in early action on the
Navteq (NVT) news. I
sold last Wednesday around $117 so with the stock down significantly this morning I will be buying back. Current price is $103, so I am going to begin a 150 share position. The 50 day moving average is $100 so I see the stock certainly getting to this level.
$103 is a 12% discount to the price I sold 3 sessions ago, so this it the type of sale I was looking for - sometimes it is better to be lucky (with timing) than good.
150 shares puts
Garmin as a 1.65% holding in the fund; and brings the portfolio back up to 58 names.
Long Garmin in fund and in personal account
