Hello Friends! I am not really finding any new stocks to my liking today....and in fact not much this week! This is the first week since last week....which is a different story....that I haven't posted any new picks. Maybe I am just getting more selective? Several stocks look interesting, but each time I review them there is something wrong. Oh well...
Anyway, with my positions up to 25 and my margin balance way out of control, I pushed my sale points a little today and sold 15 shares of SBUX (out of 75) at $35.70 and sold 50 shares of EXPO (out of 200) at $24.52.
Starbucks was initially acquired on 1/24/03, almost exactly one year ago at a cost of $22.81. Thus we had a gain of 56.5% (just about at our 60% sale point) and having just 75 shares, I just wanted to peel off 15. (With Fidelity's $8/transaction trading this wasn't a real problem).
This was the first sale from our 200 share purchase of Exponent, Inc. (EXPO) which was acquired on 10/21/03 at $19.77. We thus had a gain of $4.75 or 24%...not quite at our 30% sale goal...but with all of our margin...not too bad!
Anyway, just keeping you posted on our continued trading activity in my account. Regards to all of my friends!