Longview Fibre

LFB

Company. "Longview Fibre is a major manufacturer of value-added corrugated and solid-fiber containers, handle shopping and merchandise bags, and other paper products. The company operates one of the largest pulp-paper mills in the world at Longview, WA; 17 converting plants in 12 states; a lumber plant; is a leader in recycled-content paper packaging; and owns over 584,000 acres of timberlands managed for Sustainable Forestry in the Pacific Northwest." (company website)

Buy. This is the third lot of LFB that I bought during the summer when price pulled back. Other lots, bought earlier, were already sold.

Sell. Longview Fibre peaked earlier this month over $16. I held onto this lot inasmuch as the purchase price was almost $3 per share less than that, giving room to absorb a correction.

When I saw the price of LFB in danger of falling near $15 I decided to protect a profit of $2 per share by placing a stop-limit order to sell if the price fell below $15.32. It did and the order executed today.

Looking at the charts, I'm pretty confident that LFB is just consolidating in preparation for another upward push. That may be around $15, but it could be lower. Why leave the profits on the table unnecessarily?