Hello Friends! Thanks again for stopping by and visiting my blog, Stock Picks Bob's Advice. As always, need I repeat?, 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.
As you may know, if you are reading my previous post, I just sold some shares of AFFX at a 30+% gain, thus entitling me to add a new position, #24.
My goal is a 25 position portfolio, and I use an internal portfolio signal to add a position. Simply put, if I sell a portion of one of my holdings at a gain, I use this sale as a signal that the market is acting in a "bullish" fashion and that I can, if I am under my 25 position limit, add a position.
Getting to the point, a few moments ago I purchased 200 shares of Genesco (GCO) in my trading account at $34.36/share. I have previously reviewed GCO on this blog, and can do an update later, if I get a chance :). Genesco made the list of top % gainers today, a first requirement for any stock pick, and as I write, is trading at $34.45, up $3.05 or 9.71% on the day.
GCO reported solid earnings and revenue growth with solid same store sales growth (they are a shoe retailer), and raised guidance. That is a positive signal imho.
Thanks again for visiting. If you have any comments, or questions, please feel free to email me at firstname.lastname@example.org.