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.
A few moments ago, just before the close of trading, I noticed that my Hibbett Sporting Goods (HIBB) had hit a sales target, with a 360% gain over my initial purchase. This is my 8th sale of Hibbett stock, each time selling approximately 1/4 of my remaining shares. As you will recall, if you have been reading my posts here, I sell 1/4 of my shares at the following appreciation levels: 30%, 60%, 90%, 120%, and then by 60% intervals--180%, 240%, 300%, and 360%, and after that by 90% intervals: 450%, etc.
My initial purchase of Hibbett (HIBB) was on March 6, 2003, when I picked up my shares with a cost basis of $6.50. Owning 111 shares of HIBB prior to this sale, I entered an order to sell 27 shares (leaving 84 shares in the account) at $30.11. This was a gain of $23.61/share or 363.2% over my purchase price (!). Thus, my next sale point on the upside would be selling 21 shares at a 450% gain or 5.5 x $6.50 = $35.75, or on the downside at a 180% gain level, I would be selling all of my remaining 84 shares: 2.8 x $6.50 = $18.20.
The exciting thing about this sale is that I can use this as a signal to add a new position into my portfolio. (Since I am at only 19 positions, with my maximum being 25.) Thus I shall be on the look-out tomorrow, scouring the top % gainers list, looking for something special! I shall keep you posted.
Regards again to all of you readers. Please let me know if you have any comments, questions or other thoughts on what I write, and investing in general. Please feel free to post your words right on the blog or email me at bobsadviceforstocks@lycos.com and I shall try to get to your letter. I cannot get to all of the emails I receive, but I try to answer as many as I can (usually right in the blog).
Bob