2/7/12: Sell AMC Networks

Shares of AMC Networks (NSDQ: AMCX) have gained roughly 14 percent since we highlighted the stock in early January and now trade well above our buy target. The next identifiable catalyst for the stock is the earnings release slated for mid-March. In the interim, the stock price will likely follow the broader market.

If acquired, AMC Networks could be worth between $45 and $50 per share. But with the stock and the broader market currently overextended, investors should book profits on this trade. Sell AMC Networks and book a 14 percent gain.

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