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During the week of September 8, 2003, about 7 weeks ago, I made four picks: Hi-Tech Pharmacal (HITK) at $28.75 on 9/8/03, Merit Medical Systems (MMSI) at $23.10 on 9/8/03, Hanger Orthopedic Group (HGR) at $14.75 on 9/12/03, and Scientific Games (SGMS) at $11.55 on 9/12/03. Of these stocks, I purchased only MMSI for my trading account, and not having hit any 8% losses, I still own some shares. My son also owns 50 shares of MMSI in one of his accounts that was purchased shortly after my purchase.
HITK closed on 10/24/03 at $22.41. This is a loss of ($6.34)/share or (28.3%). MMSI closed 10/24/03 at $25.48. This is a gain of $2.38 or 10.3%. Hanger Orthopedic Group (HGR) closed Friday, 10/24/03, at $15.98. This is a gain of $1.23 or 8.3%. Finally, Scientific Games closed 10/24/03 at $11.78. This is a gain of $.23 or 2.0%.
Overall, we had three gainers and one loser. Unfortunately, the loss was a big one! Thus, on an average basis, the four stocks suffered an average loss of (1.93%) over the six week period that we have watched them. This once again demonstrates the importance of fairly close stops to prevent losses from building up!
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Have a great week!
Posted by bobsadviceforstocks at 10:39 PM CDT | Post Comment | Permalink