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Buy, Sell or Hold: Brigham Exploration Co. (Nasdaq: BEXP) is in the Midst of a Blue-Sky Breakout

Brigham Exploration Co. (Nasdaq: BEXP) - the oil and gas exploration company that we recommended as a "Buy" on Jan. 24 - has moved up by 27% in the last few weeks.

And it's not done yet.

Brigham shot as high as $32.98 on Friday after closing Jan. 24 at $25.33. In the past week alone, the stock is up nearly 11%.

Indeed, this has turned into a blue-sky break out - a phenomenon that occurs when there are high expectations for long-term organic growth.

It's possible that the sharp move up in Brigham's share price will lead to a correction, but when it is a blue-sky break out, the run could last a while.

So let's take any money we have left on the sidelines and look at any smaller, short-term dips as opportunities to increase our stake in Brigham.

Here's why.

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