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 I have discussed over and over again on this blog, my investment approach includes a disciplined selling of stocks on 8% losses after an initial purchase. After I have sold a stock at a loss, I "sit on my hands" so to speak and do not reinvest the proceeds until such time that I have either sold a portion of a holding at a gain or have gotten down to a minimum investment exposure (25% of the maximum # of positions). For me, the minimum would be down to 6 positions!
Checking my portfolio this morning, I saw that Progress Software (PRGS) had dropped below my 8% loss limit, and I entered a sale of the entire position of 240 shares at a sale price of $27.574 a few moments ago. These shares were acquired 6/16/05, at a cost basis of $30.97 (40 shares) and $31.00 (200 shares) as these had been purchased in two lots even though I had entered a single purchase order. Using a cost basis of $30.99, this gave me a loss of $(3.42)/share or (11)%. Since I enter my trades manually, this places me at some additional risk of missing my sale points at either gains or losses. Automating this might be an improvement!
Anyhow, that's the news for now. I am thus "battening the hatches" (did I say that right?), and shall wait for now before any additional trading.
Thanks again for visiting. Please email me at bobsadviceforstocks@lycos.com if you have any questions about anything or comments for my blog. Please also feel free to leave your comments right on the blog!
Bob