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.
In the last week I have chosen to 'swap out' of a couple of my holdings into stocks that I believe have greater potential, at least over the intermediate term. There isn't really anything wrong with Starbucks, or Coach. These are classic growth stocks and classic Peter Lynch kind of stocks with a great, understandable product and steady growth in revenue and numbers. It is just that I sense a certain fatigue in their performance. As if they have grown quickly and need to rest awhile before moving once again to higher levels.
Today, with the market charging higher, and Coach literally dragging, I chose to sell this stock and look on the top % gainers list for another pick. Apogee Enterprises (APOG) a stock that I recently wrote up has been having a nice day today, and as I write, is trading at $27.34, up $1.40 or 5.4% on the day. Earlier it was on the top % gainers list of the NASDAQ.
Looking for a replacement for my Coach position, I purchased 280 shares of APOG at $27.53 in my account. Time will tell whether this was a wise move. It would be interesting to hear from some of you readers about this particular swap. Would you have done this? What about Starbucks? What about all of the trading rules?
I think it was the right decision. Wish me luck! If you have any comments or questions, please feel free to leave them on the blog or email me at email@example.com.