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A little while ago I noticed that my SanDisk (SNDK) stock had hit an 8% loss and I sold my shares in the company. These shares were just purchased last month on 4/13/06 and have a cost basis of $62.04. I sold these 120 shares at $56.82, with a loss of $(5.22) or (8.4)%.
Since this was a sale on "bad news", I shall be sitting on my hands with the proceeds, waiting for a sale on "good news", that is at a targeted gain, to add a new position. It is this simple strategy that moves me slowly from equities towards cash when the market environment is as rough and bearish as it is today!
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