Hello Friends! Thanks so much for stopping by and visiting my blog, Stock Picks Bob's Advice. As always, please remember to consult with your professional investment advisors prior to making any investment decisions based on information on this website.
I have trading rules that I have discussed elsewhere on this blog. Let me just refresh your memory on this one: if you sell a stock once at a gain (30% appreciation), do not let it go back to an 8% loss prior to selling. That is, sell it at break-even!
And that is exactly what I did a few moments ago. I owned 120 shares of Affymetrix (AFFX) with a cost basis of $40.98, purchased 1/27/05. I had sold 40 shares at a price of $53.18, which represents a gain of 29.8% (my first sale point). A few moments ago, I unloaded my remaining shares of AFFX when it hit $40.80, under my purchase price, per my rules of selling at break-even if I have sold once on a gain.
That will tie my hands and I shall be waiting for a sale on "good news" in order to add back a new position.
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