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.
Fortunately, I don't often write up a stock like Visa, which I just reviewed on May 29, 2008, suggested a "Buy" rating, buy shares of the stock and then go ahead and sell share just about two weeks later. But that is exactly what has happened!
On May 29, 2008, after a partial sale of Copart on a gain, I purchased 70 shares of Visa (V) at a cost basis of $86.03. A few moments ago, with the market once again under pressure, Visa shares have been selling off and as I write are trading at $78.14/share, down $(2.17) or (2.70)% on the day. When they passed my (8)% loss level, I initiated a sale and sold all 70 shares at $78.99. This worked out to a loss of $(7.04) or (8.2)% since purchase.
Without anything fundamentally wrong with the stock, but with my own sale of shares,
VISA (V) IS RATED A HOLD
After an initial purchase of shares, no matter how much I 'like' a stock, I sell my shares should they decline to an (8)% loss. Since this is on 'bad news', I do not plan on replacing these shares, but instead am now back to my five position level, my minimum, and shall wait either for a sale on bad news (which I shall in this case find a replacement for), or a sale on good news to be buying a new position. 'Good news' for me is a partial sale of a holding at an appreciation target reached.
Thanks again for visiting and stopping by! If you have any comments or questions, please feel free to leave them on the blog or email me at firstname.lastname@example.org.
Yours in investing,