Twitter Could Be Gunning to Hit New Highs

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I'm peeling a touch of Twitter (NYSE: TWTR ) here in the $39s, as this is a 30%-ish increase from my lowest purchases on the name and much higher returns on some of the calls I bought when everyone was panicking.

I'm keeping 85-90% of my exposure, but I feel it's prudent to take a little bit off the top, even though this is still my number one name for potential future upside.

I still believe TWTR gets back on the " Google ( GOOG ) post-IPO" price ascension path.

In my post on May 29th on this subject  [subscription required], I noted:

The TWTR report (this quarter and last quarter) were far better than Palo Alto Networks' ( PANW ). In fact, they are not even in the same galaxy. Yet, people are surprised that TWTR is rising and not that surprised about PANW's move today. So, keep in mind that TWTR was in the $43 range before the most recent quarter, and around $67 before its first report. Those are two key markers for the company. In the meantime, MIND THE GAPS! They are still above the stock's current level but approaching fast."


Thus, over time I see the stock challenging old highs and making new higher highs. That said, the time frame on those predicted $55, $75, $100, and $150-plus prices is currently cloudy.

Also, for me, it's always easier to buy the dip on future pullbacks if I've taken some off on the way back higher.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Technology

Referenced Stocks: GOOG , PANW , TWTR

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