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 ago I sold my 420 shares of ICOC at $13.5505. These shares were purchased just last week (!) at a price of $14.979. Thus, this represented a loss of $(1.43) or (9.5)% since purchase. Virtually all of this loss occurred today (for no discernible reason that I could identify) with the stock trading at $13.56 as I write, down $(1.66) or (10.91)% today alone.
Since I am personally selling my shares I am thus reducing my rating:
ICO (ICOC) IS RATED A HOLD
I don't like to buy shares and only see them hit my tight 8% loss limits so quickly. That is one of the reasons I have not had a lot of success with relatively thinly traded shares of stocks priced not much over $10. But hopefully, my continued discipline in limiting losses by selling losing stocks quickly will continue to improve my overall portfolio quality long-term.
Since this was a sale on "bad news", I shall once again be 'sitting on my hands' waiting for a partial sale on appreciation to find a new position. In fact, my Bolt (BTJ) is bouncing very close to a sale as well, again on no apparent news that I can find either.
Thanks so much for stopping by and visiting! If you have any comments or questions, please feel free to leave them on the blog or email me at email@example.com. If you get a chance, be sure and visit my Stock Picks Podcast Website. Also, my Covestor Page is an interesting addition to my blogging, as it has been tracking my trading portfolio and evaluating its performance since June, 2007, against the S&P as well as other managed accounts. Finally, if you have any time left, check out my SocialPicks page where SocialPicks evaluates my stock picks and has been doing so since some time in January, 2007.
Have a great week trading.