|Written by GSCR Staff|
|Thursday, 23 May 2013 07:13|
In Monday’s Goldman Guide, we discussed selling into strength and knowing when to take profits. Right on cue, the Russell 2000 was down around 2% yesterday and the advance-decline line ‘rounded out’ down after several weeks on the upward slope.
Is it time to panic? Not even close. It is still a bull market even in the small cap space, but now may be time to sell some profits. Here are 3 stocks from our Market Monitor that are up by a large amount where taking some profits might be a good idea right now.
Wisdom Tree Investments, Inc. (NASDAQ- WETF - $13.30):
WETF is up over 42% since we recommended it. To be very frank, this one was probably a 7 or 8 on a scale of 1 to 10 as far as confidence that it would have a pop. Investors are still putting more money into the market, which should help the stock, but a nice skim off the top would probably be prudent as we head into the summer months.
Innovative Solutions &Support, Inc. (NASDAQ – ISSC – $7.75):
ISSC was our Department of Defense play which is up over 42% from $5.44 since late March. The short-term technical analysis yields a very bullish signal in MACD. The stock may still be worth holding as a defense play, but again, it is a profit-taking candidate.
TearLab Corporation (NASDAQ – TEAR - $9.55):
This is an innovative company and a great stock, up almost 60% since our highlight in March. TearLab develops products related to the cure of dry eye disease with little competition. We definitely like this as a great long play, but the stock had a big jump since financials were released last week. You won’t be crying if you made money on the trade, even if it continues to rise.
The market is in for a rough patch today so take the money and put it to something fun or useful to start the summer. One idea is the wildly successful Goldman Small Cap Research 30-30 Report, currently offered at a reduced price until May 31st. Sign up for a whole year for only $49 with coupon. See website below for details.
Have a great Memorial Day weekend!
Disclosure: Goldman Small Cap Research analysts are neither long nor short these shares but may elect to purchase the stock within the next 48 hours.
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