Wednesday, 20 August 2014

GTAT going long

Took a long position on GTAT recently. It's been getting some notice due to Apple's rise in share price recently. I noticed the current trend was headed up a bit. Decided to take a gamble that this will head above $20 a share if Apple releases info on what they're going to do with the sapphire glass from GTAT.

From what I read, this company also has two other projects they've been working on that shows promise. Unfortunately, showing promise is not the same as results.

For that reason, I'm placing an exit point if their share price goes below $15 a share. Either way, I will sell it shortly after their next ER. How soon after depends on whether it was a positive report or a negative one.

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