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.
A few moments ago I sold my 120 shares of IHS at $40.37. These shares had been purchased just last month at a cost basis of $44.16/share on 3/22/07. Thus, I had reached a loss of $(3.79) or (8.6)% since purchase. I have a rather strict 8% loss tolerance after an initial purchase. This is not a question about a particular stock, I don't know anything wrong with IHS, it is simply that to maintain my discipline of selling losing stocks quickly and gaining stocks slowly, I need to commit to following my own trading rules. I do.
As part of my strategy, since I have now sold this position on what I refer to as "bad news", I am sitting on my hands with the proceeds. I shall be waiting for a partial sale on 'good news' before adding a new position back into the portfolio.
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