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 advisers prior to making any investment decisions based on information on this website.
I don't usually have the strange combination of one of my holdings (Hologic (HOLX)) announcing an acquisition of another of my holdings (Cytyc (CYTC)). As is usually the case, this meant a sharp rise in my CYTC stock and a not quite as steep decline in HOLX. At this point, I shall go ahead and sell my 1/7th position in CYTC as it hit a sale point at a more than 180% gain from my purchase. I shall wait and see if the company is indeed going to be acquired, and if there aren't any better offers out there. If the acquisition becomes set, I shall be selling my CYTC stock and simply replacing it with another position. This would be one time where a sale was on 'good news' and yet I plan on eventually unloading the entire position.
A few moments ago I sold 26 shares of my CYTC position (1/7th of my 188 shares I owned) at $43.16. These shares were purchased 1/29/04 at a cost basis of $14.86, with a gain of $28.30 or 190.4% since purchase. This represents my fifth partial sale with prior sales at 30, 60, 90, and 120% levels.
Since I am under 20 positions (19), I again have a nickel in my pocket and shall be looking for a new position on the top % gainers list. I shall keep you posted. Meanwhile, I shall need to monitor my HOLX which unfortunately, could end up being sold on the 8% loss level if things deteriorate further.