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.
Earlier today, my 102 shares of Coach (COH) hit a targeted appreciation point and I sold 1/6th of my holdings. This worked out to 17 shares which were sold at a price of $38.73. This leaves 85 shares of Coach in my trading portfolio. These shares were acquired 2/25/03 with a cost basis of $8.33/share. Thus, I had a gain of $30.40 or 364.9% since my purchase of these shares. This was my eighth (!) partial sale of this position, having sold shares at 30, 60, 90, 120, 180, 240, and 300% gain targets. My next sale on the upside would be at a 450% appreciation level or 5.5 x $8.33 = $45.82, or on the downside if the stock retreats to 1/2 of my highest appreciation sale or at a 225% gain: 3.25 x $8.33 = $27.07.
In any case, a sale at a gain is a signal for me to purchase a new position. That is, since I am below my maximum number of positions, currently I am at 10 positions, I have a "permission slip" to identify a new investment and add it to my portfolio.
That nickel is burning a hole in my pocket already! Thanks again for stopping by and visiting! If you have any comments or questions, please feel free to email me at firstname.lastname@example.org or just go ahead and leave a comment on the blog. And if you get a chance, please drop by and visit my Stock Picks Podcast Site where you can listen to me discuss many of the stocks and strategies I write about here on the blog.