Tuesday, February 26, 2008

Gander Mountain - Protect Profit

Gander Mountain has made an impressive move from the breakout level, just a little over 25%.

We are currently nearing the $7 minimum target level and thus we want to put a stop in place to protect the profits.

A sell stop of $6.50 on a closing basis should do the trick. This will lock in a 20% return should the stock turn lower, but it is also far enough away to keep the position in place and capitalize on still higher prices.

I do anticipate higher prices for GMTN as $7 is merely the minimum target, however, it never hurts to lock in a substantial profit when one is put on the table.

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