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.
I got up this morning pretty excited about the stock market, figuring that nickel in my pocket from my HIBB sale would allow me to purchase a new position. But lo and behold, I found that my Cooper Stock was imploding, at least a bit.
Last night the company lowered guidance for the 4th quarter and 2006-2007, and the stock really took a nosedive today. As I write, the stock is trading at $53.70, down $(11.12) or (17.16)% on the day.
As I have stated elsewhere, I always reserve the prerogative (isn't that a great word!) to sell a stock on some fundamental news report. This appeared to qualify, the stock was approaching my sell point of a 90% gain (having sold my last portion at a 180% gain!), and I unloaded my remaining 45 shares. A few minutes ago, I sold my 45 shares at $53.65/share.
I first purchased COO in 2/20/03, just before starting this blog, at a cost basis of $26.98/share. Thus, I still preserved a gain of $26.67/share or 98.9% on these remaining shares. Wasn't really much of a disaster I guess :). This was actually my 6th sale of portions of cooper, my last sale being in January, 2005, at the 180% gain point.
Anyhow, since my latest sale was on "bad news", I am no longer entitled to buy a new position, according to my own trading rules, and shall be back sitting on my hands waiting for another stock to sell on "good news".
If you have any questions or comments, please feel free to leave them on the blog or email me at bobsadviceforstocks@lycos.com.
Bob