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Stock Picks Bob's Advice
Monday, 6 October 2008
ResMed (RMD) "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.

I cannot emphasize the above adequately.  In these difficult market environments, it is imperative for all of you to sit down with your professional advisers and determine your own individual approach to the stock market. 

One of all-time favorite stocks is ResMed.  I like to even point out that as a Peter Lynch type investment, I know their products.  I use their products.  And I like their financial results. 

But NO stock is immune to the market rampage going on today, this past week, and the past six months.  As I write the market is trading at 9,649.17, down (676.21) points on the day.  The Nasdaq is at 1,797.77, down (149.62) points.  You can't make this stuff up!

Trying to stay to my relatively rigid trading system in the midst of this chaos is a bit of a challenge.  But I am doing it.  In other words, ResMed has been flirting with an (8)% loss as I wrote earlier today.  Unfortunately, the stock declined adequately to give me that loss and I sold my position. 

Specifically, I sold my 140 shares of ResMed (RMD) at $39.682.  I had purchased these shares just two months ago (!) on 8/6/08 at a cost basis of $43.33.  Thus I incurred a loss of $(3.648) or (8.4)% after my initial purchase.  With my own sale of ResMed, and the awful current stock market condition, without regards for my own admiration for the company, the great underlying fundamentals, and their wonderful products (do I have seller remorse or what?),

RESMED (RMD) IS RATED A SELL

These past two sales have happened rather quickly.  I am now down to only two positions (!), my Global Payments (GPN) which is also approaching a sale point, and my Covance (CVD) which is well above a sale position for the time being.  Thus, being under five positions, I actually have a 'buy signal' to add three new positions to my portfolio to get it back to the minimum of 5.

I am not nuts however :).

Thus, I shall be waiting for a little better environment before dipping my toes back into the water so to speak!  I hope that all of you are holding up to the terrible stresses and financial performance of so many of the stocks out in the investment environment.

If you have any comments or questions, please feel free to leave them on the blog or email me at bobsadviceforstocks@lycos.com.

Yours in investing,

 

Bob


Posted by bobsadviceforstocks at 1:29 PM CDT | Post Comment | Permalink

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