Riverbed Technology (RVBD) is exactly the type of stock that does well around the Thanksgiving holiday - a hot momo stock that the retail trader absolutely loves - along with the institutional momo trader. The stock is on its 6th straight winning session, even in a tape that has not been great the past week, and with a move over $35, sits about 17% over the 20 day moving average - I'd consider that quite extended. But it can continue since momentum begets momentum - we saw that in Silver Wheaton a few weeks back. (of course the farther you get from support, the more traumatic the reversal - again, as Silver Wheaton showed us)
I am going to take 1/5th off the table to lock in some sheckles on this move over $35. If we see a similar performance Friday I'll take another 1/5th off. This has been one of our superstar stocks of the year. [
Oct 28, 2010: The 50 Best Performing Stocks Year to Date]
Long Riverbed Technology in fund; no personal position
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