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.
As part of my trading strategy, I am selling stocks that hit 8% losses. After a sale, I 'sit on my hands' and leave the proceeds in cash (or as more accurately is the case, I pay down my margin.) I don't second guess what the market is telling me through my portfolio.
This afternoon, with the market turning down once again, my JLG stock hit a sale point. I had purchased 320 shares on 1/12/06 (note that my latest purchases are being sold first), at a cost basis of $25.81. A few moments ago, I sold all 320 shares at $23.67 for a loss of $(2.14) or (8.3)%. No matter how much I like JLG or CNXS or ANGO, these stocks were sold because my trading strategy dictated their sale. And out they went.
I shall be applying the proceeds to my shrinking margin level, and waiting for a stock to hit an appreciation target instead of a sale point, to add a new position to the portfolio. Meanwhile, I am battening the hatches.
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