Seek Limited (ASX:SEK) is a great business. It has bullishly pushed back into the longer term channel and should jog towards the top of the channel in the coming week or so.
13 February 11:35am
Sells half trading parcel at $12.94 (+24 cents or +1.9%) on weak employment data. Average on remainder now $12.46. Will wait and see on remaining as next day or two pans out.
18 February Midday
Sells remainder at $13.50 average (+80 cents or +6.2% on initial buy at $12.70), or (+$1.04 or +8.3% on average cost $12.46). I think Seek are reporting tomorrow, they are pretty much priced for perfection so anything less in their half yearly will put the gains at risk. Locking in these short term gains now.
This article is published by Dean Mico.
Disclosure: The Edge Fund owns shares and has also added a short term trading position in Seek Limited.
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