I am continuing my policy to be wary of a general market pullback, but add to or begin positions on individual stock pullbacks. Starent Networks (STAR) is a name we highlighted a week ago [ Apr 29, 2009: Starent Networks (STAR) 3G Player with 4G Potential ] as it was near $20. There was a gap in the chart at $17 where I placed a limit order to buy... today the stock swooned to $17.20s so I missed my opportunity by $0.26. So instead I am going to begin a starter stake of 1.3% allocation in the low $18s; my only concern is volume is quite high - already before noon almost the entire day's average volume has been reached. I still have a suspicion it could falter some from here and I may get my $17.00 price point, but since corrections nowadays last hours I decided to jump in and begin a stake. Valuation is not cheap in a vacuum, but compared to some of the things running 10, 15% a day it's a steal.
Long Starent Networks in fund; no personal position