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.
Stocks have rallied the last couple of days and this has put another of my stocks in the sale range on a gain. Mentor (MNT), as I write, is trading at $55.19, up $1.49 or 2.77% on the day. Earlier today, I sold 37 shares of Mentor at $55.24. This represented 1/4 of my 150 share position.
These Mentor shares were acquired on 2/3/05 at $34.37/share. Thus, these shares were sold with a gain of $20.87/share or a 60.7% gain over the initial purchase. This was my second sale of shares of Mentor, having sold 50 shares of my 200 share initial position on 7/28/05, a little over a month ago, at a price of $44.98, which represented a gain of $10.20 or 29.7%.
If you follow my blog, you know that I like to sell stocks quickly at a loss, using 8% as my limit, and also sell shares slowly at targeted gains, with 1/4 positions (of remaining shares) sold at 30%, 60%, 90%, 120%; (then by 60% intervals): 180%, 240%, 300%, 360%; (then by 90% intervals etc.). Thus, with Mentor, I shall try to sell another 1/4 position at 90% gain level, or unload all of my remaining shares if the stock retraces to a 45% gain point. (After selling more than once, I use a 50% retracement of the highest gain % as my sale point.)
Thanks so much for stopping by! If you have any questions or comments, please feel free to leave them right on the blog or email me at firstname.lastname@example.org.
Updated: Wednesday, 7 September 2005 2:33 PM CDT