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.
A few moments before the close of trading my Precisions Castparts (PCP) hit another sale point and I sold 12 shares (1/7th of my 86 shares remaining) at $131.29. These shares were originally purchased 10/24/06 at a cost basis of $69.05. Thus, I had a gain of $62.24 or 90.1% since purchase. This was my third targeted sale, having sold 20 shares on 2/1/07 and 14 shares on 5/9/07.
On the upside, my next sale shall be 1/7th of my remaining 74 shares or 10 shares at a 120% appreciation target which works out to 2.20 x $69.05 = $151.91. To the downside, after a 90% appreciation target is reached, I pursh up my stop to 1/2 of that gain or a 45% appreciation level to sell the remaining shares if they should decline to that level. That works out to 1.45 x $69.05 = $100.12.
By the way, since I am at 18 positions (after my sale of MEDTOX earlier this afternoon), this subsequent sale on 'good news' indeed gives me a 'permission slip' to add a new position. I didn't have enough time to identify anything (did look a bit at the JCrew Group stock which was attractive but didn't have time to execute a purchase of shares). Thus, I have a 'permission slip' which carries over tomorrow and shall be on the look-out for a new stock! Wish me luck!
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Have a great evening friends!