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 market is up nicely today and one of my stocks, Dynamic Materials (BOOM) has just hit a sale point. I purchased 240 shares of BOOM last month at a cost basis of $28.32. As you may know, my first targeted sale point is a 30% gain.
A few moments ago I sold 1/6th of my position, 40 shares, at $37.50. This represented a gain of $9.18 from my original purchase price or an appreciation of 32.4%. I now have 200 shares and shall be looking to sell all of my shares on the downside if the stock should retrace to a break-even position, or another 1/6th of my position, about 33 shares, if the stock should reach a 60% appreciation level or 1.60 x $28.32 = $45.31.
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By the way, as you may also know, this sale at a gain, since I am under my 25 maximum position, entitles me to add a new position. I shall be scouring the top % gainers list for prospects and shall keep you posted. Meanwhile that nickel is already burning a hole in my pocket :).