Those small gains add up.Especially in this market.We cant be picky.

sold 1/3 of my shares late yesterday afternoon and 1/2 my remaining shares this morning.  I fully expect it to bounce back- but i'm not willing to risk my profit on being wrong...

I agree that we should never let a significant gain turn into a loss (signficiant is obviously different for all of us, for me it's 10% or greater).  In the case of KORS, it seems to have found some support around the 21dma.  It will be interesting to watch how this level holds up over the next several days.

I missed the pocket pivot on KORS.Hopefully it'll hold up and offer another buy.

Anyone have any thoughts on LNKD?

@geoandrianas: I do have thoughts on LNKD...care to open another blog post about it?

Also of note, KORS is the first stock that I've seen pass the MarketSmith Growth Checklist by 100%

When is the date of this latest secondary? As far as I can tell no date has been given.  When it had the last secondary of 25M shares in February it took 4.5 months to recapture the prior high. I would imagine this 20M shares will take some time to work through as well.

Good observation "I"!  That's definitely a valid point worth noting as well.  

I'm also looking at what's different this time around.  When the last secondary was offered (3/22) the market was topping and soon fell into correction.  This time around, the market appears stronger.  Additionally, at the time of the last secondary offering, KORS had nearly doubled without taking a breath.  This time around, it just broke out of a base and hasn't advanced too far yet.

fair & accurate counter point. I would say that if the post-secondary move is well absorbed and buyers come in to support the $50 level, that I would absolutely view that as very bullish. Also of obvious import is how the broad rally is fairing at the time of the announcement. It's all guesswork for now.

@Iamofthe.mike: I made a forum post about this very thing. KORS is grouped in the Apparel - Mnfg group which hadn't made the top 40 cut in the Growth Checklist giving it a 95%. Since much of their growth is driven from their retail operations, I thought that they could easily be in the Retail - Apparel/Shoes/Acc group which did make the cut.

The point is moot now as the Apparel - Mnfg group moved up to 40.

If a person had bought KORS at the buyable gap-up, and then possibly added more as it broke $50, they would stil have a small profit. WON advises to hold a stock 8 weeks before deciding that it's a dud (unless it triggers other sell rules).

I bought at the gap up on earnings, I am still holding long. I hope to see some support around the 50 where i may add on some strength and the market remains relatively healthy. Fundamentals are great, like the technical action of it. Longer term winner i hope.

Not letting gains turn into losses is something I'm trying to tune up as well. I don't move my 8% stop loss until I'm showing more than a 2.5% gain. Here is what I'm using currently, what do you guys think?

gain   |   stop loss

--------|---------------

2.5% |   breakeven + commission

5%     |  2.5%

10%   |   5%

15%   |   8%

and so on.

I should say that I came up with this after reading in Trader Vic that he never loses more than 50% of a gain.

To me it seems like you are setting up a situation that could result in a lot of small gains and a couple of larger losses that could wipe it all out.  Your initial risk is 8%- if your position never moves in your favor you are exposed to the greatest risk.