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 remember to consult with your professional investment advisors prior to making any investment decisions based on information on this website.
The 'bear' is growling on Wall Street!
A few moments ago, I realized that my Dell (DELL) stock had hit a sale point on the downside. Since I have actually sold portions of my DELL twice, at approximately 30% and 60% gain points, on the downside, my target was at a 30% gain to unload the rest of my shares. The stock passed through this level and I sold my remaining 120 shares at $31.91.
These shares were originally purchased 2/14/03 at a cost basis of $25.13, so I still had a gain of $6.78/share or 27.0%. Thus, I am back to 24 positions but shall not be adding any final 25th stock until I sell a portion of one of my other 24 at a gain target. Meanwhile, I shall be paying down my margin, something you really do not want to have as a market declines, which just leverages your losses!
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