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 remember to consult with your professional investment advisors prior to making any investment decisions based on information on this website.
As you know, I have a selling 'discipline' as well as a purchasing strategy to deal with my stock holdings. A few moments ago, I sold both my position in Giant Industries (GI): selling 160 shares (my entire holding) at $48.7701. These shares had passed my 8% loss limit, as they were purchased just last month on 9/1/05 at $53.22.
I also have a strategy to sell stocks after a couple of sales at gains, if they reach the 50% of the highest gain target. My Mentor (MNT) stock was initially acquired on 2/3/05 with a cost basis of $34.37. I have sold this stock twice already with the last sale at a 60% gain level on 9/7/05. Having now retraced to just under a 30% gain level, I sold my remaining 113 shares a few moments ago at $44.60.
Since I am selling these stocks on "bad news", this is a signal for me to 'sit on my hands' and avoid reinvesting these funds. This is fortunate, as this continues to whittle away at my significant but shrinking margin balance.
Thanks so much for stopping by! If you have any questions or comments, please feel free to leave them on the blog or email me at firstname.lastname@example.org.