Sold half my Smiths a few days ago…
Price has risen about 50% making it a much less attractive idea. They are also considering aquisitions – something I instinctively dont like.
Although I am not much of a chartist – it does look toppy to me, so time to take a bit of money off the table.
It is tricky to know when to sell something like this – I still think it could be worth another 30% more but the question is how long will it take and will we get a fall in the interim.
It also should be remembered that c20% of my ‘profit’ is due to the fall in the pound as SMIN is a big overseas earner – so again there might be more to make here.
Far from a conviction sell and I am definitely leaving money on the table for the next guy.