NVE Corp. (Ticker: NVEC) Taking Profits off the Table

Over the weekend I considered taking profits on NVEC. Based on the weakness the stock displayed over the previous four (4) trading days and the MACD indicator that rolled over on the day chart (top left), I decided to lock in profits and leave the option of jumping back in at a later time open. So when the stock opened to the upside I took advantage of the situation and sold with abandon. For most of the day I was sure I did the right thing, but the last hour saw heavy buying and the stock rebounded to close down 2.83%, but, it had been down nearly 9% before rallying into the close. Was all the buying in the last hour short covering or funds buying? I don’t know, maybe both. But you can bet I’ll be watching this one. I’m not looking to give back any profits, but this stock could still make a run for the Moon. Still I’m glad to have locked in strong gains on this stock with the quarter almost over.