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Earlier today I sold my remaining 350 shares of ININ at $15.80. These shares were the remaining shares of one of my 'trades' and thus, my 'trading rules' for this position meant that they were to be sold at break-even if the stock price should decline to that level. As per my previous comments, I am not sure that I shall continue to do any of these trades at all, but this has been my strategy for these purchases of stock.
My shares of ININ were purchased 1/31/08 at a cost basis of $15.76/share. Thus at $15.80, the stock had come down to break-even, and I chose to sell my remaining shares. Interactive Intelligence closed today at $15.51, down $(.72) or (4.44)% on the day. Thus the sale at $15.80 worked out to be a reasonable move imho.
With this sale, my account is now down to 7 positions, above my minimum of 5 and well below my maximum of 20. Furthermore, my margin balance has been eliminated and I actually have a small credit balance in my account.
Some additional thoughts on Interactive Intelligence (ININ):
On January 30, 2008, they reported strong 4th quarter 2007 results. The Morningstar.com "5-Yr Restated" financials are intact. However, the technicals are weak. As the "point & figure" chart from StockCharts.com shows, the company broke down this January after it broke through support at the $22 level.
With the strong earnings report, the solid Morningstar.com evaluation, but the weak price chart, as well as my own sale of shares, the best I could do is
INTERACTIVE INTELLIGENCE (ININ) IS RATED A HOLD
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