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The 'bear' is growling on Wall Street!
A few moments ago, I realized that my Dell (DELL) stock had hit a sale point on the downside. Since I have actually sold portions of my DELL twice, at approximately 30% and 60% gain points, on the downside, my target was at a 30% gain to unload the rest of my shares. The stock passed through this level and I sold my remaining 120 shares at $31.91.
These shares were originally purchased 2/14/03 at a cost basis of $25.13, so I still had a gain of $6.78/share or 27.0%. Thus, I am back to 24 positions but shall not be adding any final 25th stock until I sell a portion of one of my other 24 at a gain target. Meanwhile, I shall be paying down my margin, something you really do not want to have as a market declines, which just leverages your losses!
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