Garmin: The Market Expected a Miracle

| About: Garmin Ltd. (GRMN)
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I sold Garmin (NASDAQ:GRMN) Wednesday morning at $95 before the conference call. This left me with a 40% gain on this stock.

I am not entirely happy with the gain considering I sold it 15% short of the high a few weeks ago. However, I am happy about trading out before the stock turned negative. By nature, I am not a trader and am not very deft at timing my trades and I try to invest over longer periods for that reason.

Back to Garmin now - the earnings and guidance were phenomenal. But considering this stock is up so much when the market has been in doldrums most of the year, the market expected nothing short of a miracle from Garmin. Having said that, I expect the stock to base in the 80's touching as low as 80 and head back up in a few weeks. Keeping an eye on this is probably a good idea as the story is far from over.

One interesting thing to note here is that Garmin, recommended by Barron's earlier this year, has been their most successful bullish call this year so far.

Related: Garmin Q2 2006 Earnings Conference Call Transcript

GRMN 1-yr chart: