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A few moments ago I sold 37 shares (1/4 of my remaining position of 150 shares) of Cal Dive (CDIS). This was my second partial sale of CDIS, and thus my targeted gain, which I just hit, was a 60% gain over the initial purchase price.
These 150 shares were purchased 11/3/04 at a cost basis of $38.20/share. (I made my first sale, 50 shares of 200 share position on 2/25/05 at an effective price of $49.87.) The 37 shares were sold at $61.14 today for a gain of $22.94/share or 60.05%. My next sale will thus be at 90% on the upside, or I shall unload my remaining shares at a 30% gain level on the downside!
Since I am still at my 25 position goal, I shall be using the proceeds to continue to pay down my sizeable, but fortunately shrinking, margin level!
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