Capitalizing on a Run
It's important to acknowledge a stock that has moved higher with a trade.
I'm going to sell my next tranche of Mitsubishi UFJ Financial (MTU:NYSE ADR) this afternoon, as the stock remains up around $13.59. I will unload 700 shares after you read this; leaving me with 14,000 shares, or 5.1% of the overall portfolio. Again, I believe the world's largest bank by assets could trade up toward the mid-teens by the end of the year. That said, we can't capitalize on buying the stock at lower levels if I don't acknowledge the 13.5% run over the past two weeks and take some shares off the table at current levels.
Regards,
James J. Cramer
DISCLOSURE: At the time of publication, Cramer was long Mitsubishi UFJ Financial.
Send email to james.cramer@thestreet.com.