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Friday, 28 October 2005
"Trading Transparency" American Medical Systems Holdings (AMMD)
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.

Earlier this morning, my shares of American Medical Systems Holdings (AMMD) hit a sale target on the downside. I sold my 230 shares of AMMD at $16.07. The stock sold off on earnings news that at first glance don't seem too bad at all, but apparently somebody must have seen something they didn't like, and drove the stock lower. As I write, AMMD is trading at $16.05, down $(1.73) or (9.73)% on the day.

AMMD split 2:1 on March 22, 2005. I made an initial purchase of 200 shares (pre-split) on 1/9/04 with a cost basis of $25.82/share. On 6/24/04, I sold my first portion of this investment, 50 shares (representing 1/4 of my position) at $32.08 for a gain of $6.26 or 24.2% (a bit earlier than my current 30% gain target). My second sale was for 35 shares of my remaining 150 share position (approximately 1/4 of my holding) at $40.92, for a gain of $15.10 or 58.5% on 12/21/04. Thus with two sales, approximately at 30% and 60%, my strategy is to unload my remaining shares if the stock price retraces to 50% of the highest % appreciation target. In this case, if the stock retraced to a 30% gain level.

Earlier today, with the stock selling at $16.07, with a split-adjusted cost basis of $12.91, I had a gain of $3.16 or 24.5%, thus passing the 30% level I had targeted to unload my remaining shares. I entered the order ASAP and sold all of my remaining holdings in the stock.

Let's take a quick look at the"Point & Figure Chart" on AMMD and see if we can see the break-down in support for the stock:



Here we can see how the stock has been moving ahead steadily, and yes, the stock just broke through its support line, suggesting a possible weakening of the price action on this stock.

Thanks again for stopping by! As you know, when I sell a stock in my trading portfolio on "bad news", I need to "sit on my hands" and not go ahead and reinvest the proceeds.

If you have any questions or comments, please feel free to leave them on the blog or email me at bobsadviceforstocks@lycos.com.

Bob


Posted by bobsadviceforstocks at 12:39 PM CDT | Post Comment | Permalink

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