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 consult with your professional investment advisors prior to making any investment decisions based on information on this website.
I was away from my computer last week, and this weekend, I realized that two of my stocks had actually hit sell points in spite of the relatively weak market overall, and this morning I sold 1/4 positions of each of these.
Cantel Medical (CMN) was acquired 6/4/04 with a cost basis of $13.36/share. I have already sold portions on 7/8/04, 12/20/04, and 2/3/05. (30%, 60%, 90% targets.) Earlier today, I sold 50 shares of CMN at $29.60 for a gain of $16.24 or 121.6%, for my fourth sale target (120% gain). This was a 1/4 position of my remaining 200 shares, and thus I now have 150 shares of Cantel. My next sale target on the upside would be at a 180% gain, or on the downside, allowing it to retrace 50% back to a 60% gain level.
The other partial position that was sold at a gain this morning was Ventana Medical Systems (VMSI). I acquired Ventana shares 4/16/04 for a cost basis of $23.47/share. I sold my first shares 11.29/04, at approximately a 30% gain, and now with VMSI trading this morning at $38.00, I sold 1/4 of my remaining shares (75 out of 300), for a gain of $14.53 or 61.9%, for my second targeted sale. My next sale will be at a 90% gain on the upside, or allowing it to retrace to a 30% gain on the downside.
Having sold two partial positions on good news (gains) this "entitles" me to add two new positions if any are appropriate for the portfolio. If a stock is sold at a loss...or two...prior to making these purchases, these will "cancel out" the buy signals....I hope you follow.
Thanks again for stopping by! If I make a purchase, I will keep you posted. If you have any questions or comments, please feel free to email me at bobsadviceforstocks@lycos.com.
Bob