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.
A few moments ago, my investment in Coach (COH) in my Trading Account hit a sale point, and I sold 1/4 of my position of 136 shares (34 shares), at $33.25/share. Coach has been the strongest stock in my portfolio, which I purchased at a cost basis of $8.33/share on 2/25/03. Thus, this represented a gain of $24.92/share or 299.2%. This was my seventh (!) partial sale of Coach, having sold portions at 30%, 60%, 90%, 120%, 180%, 240%, and now at 300% gains (!). My next sale target will be either at a 360% gain on the upside, or failing any particular bad news which might trigger a sale, I shall allow the stock to drift back to a 150% gain level prior to selling on the downside. This would represent a 50% retracement of my highest sale target.
In any case, that frees me up to purchase a new position, which would be position #24 in my trading account with my goal of 25 positions. After reaching 25 positions, I shall be using any proceeds to at long last pay down that margin!
Thanks so much for stopping by. If you have any questions or comments, please feel free to email me at bobsadviceforstocks@lycos.com or just plain leave a message here on the blog.
Bob