Hello Friends! Thanks so much for stopping by and visiting my blog, Stock Picks Bob's Advice. As always, please remember that I am an amateur investor, so please consult with your professional investment advisors prior to making any investment decisions based on information on this website.
A few moments ago, my investment in Coach (COH) in my Trading Account hit a sale point, and I sold 1/4 of my position of 136 shares (34 shares), at $33.25/share. Coach has been the strongest stock in my portfolio, which I purchased at a cost basis of $8.33/share on 2/25/03. Thus, this represented a gain of $24.92/share or 299.2%. This was my seventh (!) partial sale of Coach, having sold portions at 30%, 60%, 90%, 120%, 180%, 240%, and now at 300% gains (!). My next sale target will be either at a 360% gain on the upside, or failing any particular bad news which might trigger a sale, I shall allow the stock to drift back to a 150% gain level prior to selling on the downside. This would represent a 50% retracement of my highest sale target.
In any case, that frees me up to purchase a new position, which would be position #24 in my trading account with my goal of 25 positions. After reaching 25 positions, I shall be using any proceeds to at long last pay down that margin!
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