Fundamental Analysis » Bookkeeping: Cummins Engine (CMI) Trade Working Well

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Bookkeeping: Cummins Engine (CMI) Trade Working Well - We’re Adding Back

We scooted out of most of our Cummins Engine (CMI) last week and then immediately after an excellent earnings report yesterday [Cummins Engine Continues to Quietly Execute] with the last of the position sold out at $74. I wroteNow as much as I like this story we see a potential top forming and everything good is to be sold in this trecherous market; all gains are erased quickly. So I’m taking this down to a 0.1% holding position and selling the remaining portion around $74. Frankly I didn’t hold much since I sold on that spike to low $70s last week. And we will buy back on a pullback… or if the stock continues upward through the $75 level we’ll buy on “technical” strength. Right now good results are not keeping stocks up for long so until that pattern changes we’ll obey the markets wishes and sell strength. …
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