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.
A little earlier this morning I unloaded my 187 shares of Jos A Bank (JOSB) at $27.00. I had purchased these shares on 4/4/05 at a cost basis of $25.59. So actually, I had a small gain on these shares of $1.41/share or 5.5% since purchase. JOSB is having a HORRIBLE day in the market, trading at $25.64 or down $(11.49) or (30.95)% since the close yesterday. The stock virtually collapsed on a poor earnings report that came out this morning prior to the opening of trading with earnings at $.32/share down from $.38/share last year.
I don't need to know why the stock is down. It dropped to a sale point after passing through the 30% gain point. I have had two previous sales of this stock at 30 and 60% appreciation points, and the current price was below my sale point.
Since this is another sale on bad news. I shall once again be sitting on my hands with the proceeds as I continue to batten down the hatches in the face of this bear market. I do not know how much farther down it goes, but I shall let my stocks dictate my response and hopefully, we shall start seeing some good news that allows me to add a few positions.
If you have any comments or questions, please feel free to leave them on the blog or email me at bobsadviceforstocks@lycos.com. Please be sure to stop by and visit my Stock Picks Bob's Advice Podcast Site where you can listen to me discussing many of these same stocks and issues I am facing along with all of you!
Bob