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.
Earlier today I found that my latest stock purchase, Graham Corp (GHM) had hit a sale point on the downside and I sold my 210 shares at $41.34. These shares had just been purchased on 1/10/08 at a price of $46.27. Thus, my loss on these shares worked out to $(4.93)/share or (10.7)% since purchase. My trading rules dictate me to implement sales as stocks hit (8)% losses. I am fairly 'old-fashioned' with these sales and monitor my stocks manually. With the fast-moving market, I probably should consider automatically setting up these transactions.
Since this stock sale is on 'bad news', I do not have any permission to replace this investment with another holding. Thus, I am now down to 10 holdings in my trading account, down from my maximum of 20 and above my minimum of 5. My portfolio keeps 'talking to me' and I am listening.
As is my practice, I shall be waiting for one of my positions to hit a sale at a targeted appreciation point to get that 'permission slip' to add another stock. Meanwhile, I am sitting on my hands. Hoping against hope that the market does not dictate another sale of a great company with a weak stock price.
With this sale of my own shares,
GRAHAM (GHM) IS RATED A HOLD
Thanks so much for visiting! If you have any comments or questions, please feel free to leave them right on the website or email me at bobsadviceforstocks@lycos.com.
Bob