CTRN up up and away!

Very interesting action by CTRN today. Last night they released some
good earnings numbers after closing at $39.94. The stock gapped up to
open at 43.09 and rose to 46.50 on the day!

Here's what was kinda cool. I bought this stock back on 3/29 at $39.19,
but I only bought 3 shares, or $100 worth. I had read an article about
staging in that recommended for a $500 stake buying $100 first as a
feeler. Then if it goes up 3%, buy $200 more. Repeat once more at 6%.
The idea is that if it tanks, you're only out $100. Anyway, I bought my
3 shares and then put in a buy-stop order at $40.37 (although for 22
shares, so I kinda broke rank with the system there by buying more than
$500 total and not splitting the 2nd piece of the buy).

Well, with this action this morning, my trade entered at open, but it
placed at 43.25 after the gap up past my buy point. The cool thing is
that those 3 shares I had already bring my avg purchase price down to
$42.76 because they were so much lower than the open price today. Cool!

As of right now, I'm up 8.7%. Now I just have to figure out when to
sell this puppy, hopefully after I ride it up a lot more. I'd like to
set a trailing stop, but I think they should probably be set for
15-20%, and I'm not up that much, yet. IBD says that you can expect a
17% pullback, but also that you should never take a loss after having a
profit, no matter how small. So for now I'm setting a stop at $43, to
try and give this thing the room to grow. With the huge volume it broke
out on today, hopefully it will head straight up.

I do think if it hits 20% I will sell. Everything I've been reading
says the biggest mistake people make is selling their winners too soon,
but I think 20% would be a good confidence booster and it's a simple
method IBD recommends for begginners.

Of course, IBD also says that if it climbs 20% in less than 8 wks to
hold another 8 wks, so we'll see. That would be a pleasant problem to
have.