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Wednesday, 26 September 2007
ICO Inc. (ICOC) "Trading Transparency"

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 bobsadviceforstocks@lycos.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. 

Bob


Posted by bobsadviceforstocks at 12:15 PM CDT | Post Comment | View Comments (4) | Permalink
Updated: Wednesday, 26 September 2007 12:38 PM CDT

Wednesday, 26 September 2007 - 10:04 PM CDT

Name: "sneakdoggiedog"

Hi Bob:

 

I just wanted to let you know that I appreciate you hanging out your dirty linons with your trades.  About BTJ, I wouldn't give up on that stock yet.  I see that it caught a double bottom today with a decent bounce.  I plan to nibble in the morning.

Wednesday, 26 September 2007 - 10:50 PM CDT

Name: "Bob Freedland"
Home Page: http://bobsadviceforstocks.tripod.com/bobsadviceforstoc

Sneak,

Thanks for the kind words.  I work very hard at honest transparency on this website.  I do some stupid things and I do some smart things.  On balance, my portfolio is doing just fine.

I appreciate the encouragement on Bolt (BTJ).  The stock closed yesterday just under my sale point, and as I was getting ready to sell this morning, the stock was trading higher and not in the sale zone.  Let's see how that stock trades tomorrow.

Keep on commenting.  Your in put is appreciated.

Bob 

Friday, 28 September 2007 - 3:39 PM CDT

Name: "hap"
Home Page: http://hapmoorii.blogspot.com

I pulled up a chart on this one just to see what was going on, and given the volume, you have to wonder if a mutual fund was taking profits from a purchase made around February 2007.  I could be wrong, but I'm curious if you continue to watch the performance of stocks after a sale like this one to look for ways to adjust your approach.  i.e.  Not buy ICOC in the first place or change rules so that you weren't stopped out of it unnecessarily (if indeed it turns out to be unnecessary...that still remains to be seen of course).

Friday, 28 September 2007 - 3:51 PM CDT

Name: "Bob"
Home Page: http://bobsadviceforstocks.tripod.com/bobsadviceforstoc

Hap,

As usual a great comment.  I have watched ICOC as well as BTJ and think they were likely dropping for more technical than fundamental reasons.  I really believed the selling was overdone and thought even of 'breaking my rules' and buying some back.  But I didn't.

One of the weaknesses as well as one of the strengths of my "system" is the possibility of selling a stock quickly after an initial purchase just based on volatility.  I don't really know any way out but to follow my rules.  I suspect I should be avoiding the smaller cap stocks with my approach due to their intrinsic volatility.  

I am hopeful, after an initial purchase of a stock like Copart (CPRT) that I recently did pick up, that there will be enough momentum to move the stock price into an area so that after the inevitable profit taking, I shall still be able to avoid a sale.  I am not always successful.

I do revisit stocks sometimes.  If the situation arises and the opportunity avails itself to me, I am comfortable re-purchasing a stock.  So in summary you are right.  My system is far from perfect.  But overall it is working quite well!

Bob Freedland 

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