Hello Friends! Well it was a bit of a roller-coaster day in the market. I kept waiting for my Cantel (CMN) to hit a second sale point (at around 60% gain), but the stock would not oblige me and stayed at the 58% gain point. So I sat on my hands!
However, I was browsing through my stocks and realized that I had overlooked my Starbucks (SBUX). Now unfortunately, I never bought a lot of SBUX, and have sold it several times since purchasing....in fact, my shares were all acquired on January 24, 2003, at a cost basis of $22.81/share. I sold my first 25 shares on 9/8/03 at a price of $28.47, for a gain of $5.66 or 24.8%, the second sale was 15 shares on 1/23/04 at a price of $36.16, or a gain of $12.35 or 54.2%, the third sale was 15 shares at a price of $43.89 for a gain of $20.58 or 90.2%. So you can see, I was selling about 1/4 of my holdings each time at nearly 30%, 60%, and 90% positions.
Today, having only 45 shares remaining (unfortunately), I noticed that the stock was selling at $58.69 (where I sold it) or a gain of $35.88 or 157.3%. I totally slept through the 120% point!!!. So I sold 10 shares at $58.69, leaving 35 shares remaining. My next target will be at a 180% gain (!)...and I might even get there!
Thus, even though this morning I sold a stock at a loss (NAVR), I sold a portion at a gain this afternoon putting me once again in the position of being able to add a new position to my portfolio! And CMN might even hit a sale point soon!
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Have a great weekend everyone!