Tuesday, November 29, 2011

Corning (GLW $13.09)

GLW is down over 10% today one day after I'd mentioned getting some. They've cut their fourth-quarter sales forecast for its Gorilla Glass. This type of action is precisely why it's pivotal to buy breakouts on strength. I was willing to miss 5% of upside to buy over 15.50 in order to avoid a 10% pitfall today. I'll reset my expectations now. I'm not sure that I'll buy any down here in the 13s but for now I'm just glad to have avoided a big loss.

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