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!
I wanted to share with you a trade that I just implemented in my account. I sold my complete position (210 shares) of VCA Antech (WOOF) at $37.74/share. These shares were purchased on 7/27/07 at a cost basis of $41.04/share. Thus I had a loss of $(3.30)/share or (8.04)% since purchase.
As you probably know, I use the (8)% loss as a point of sale of any position in my portfolio after an initial purchase, and not having sold any shares at higher appreciation targets. Furthermore, I use this sale on "bad news" as a simple portfolio management signal. (As if I hadn't been paying attention to what the market is doing!). In other words, I do not plan to reinvest these funds. Fortunately, my margin balance continues to dwindle along with my equity positions.
I shall be waiting for some 'good news' signal to resume expanding the size of my portfolio with new positions. I am now down to 8 positions in my trading account: ABAX, CERN, CPRT, CVD, IHS, MORN, RMD, and VIVO. No position is immune from a sale. So if the market continues to go lower, I shall update you on the progress in my portfolio.
As for WOOF, this is my second unsuccesful attempt to own the stock. With my own sale of shares, I am thus reducing my rating:
VCA ANTECH (WOOF) IS RATED A HOLD
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Have a good week everyone!