It was only two weeks ago we were feeling a little sick about our long position in Briggs & Stratton Corp. (BGG). Now we’re glad we were able to distinguish between market weakness and company weakness. BGG shares are back to where they were in early February. More importantly, they’re back in the black for us; we picked Briggs and Stratton at $15.55, and they’re currently at $15.65. That’s a heckuva run from March’s low of $11.13.

I still have doubts about the stock continuing at this blistering pace, so don’t “chase” this one if you’re interested. Remember, this is a long-term idea for us and we should see several pullbacks along the way to use as entry points. And as overbought as we are now, I suspect we’ll see one of those dips in the very near future. As long as the 50 day moving average line (purple) holds up as support at $14.36 though, the overall uptrend should be ok. That may be a good entry area, in fact.

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