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.
Wisconsin Dells and "Ducks" Boat
As many of you probably know, I like to post ideas for investment on this blog and share with you my actual trading portfolio. I manage my portfolio with targeted sales, selling entire positions on "bad news" or declines in the stock price, and selling portions (currently 1/6 of holding) at targeted appreciation levels.
Currently my appreciation targets for sales are at 30, 60, 90 and 120% appreciation, then 180, 240, 300, and 360%, and then 450%, 540%.... Earlier today, my Meridian Biosciences hit a targeted appreciation level and I sold 43 shares (approximately 1/6th of my holding of 253 shares) at $24.52. I purchased these shares 4/21/05 with a cost basis of $11.13. Thus, I had a gain of $13.39/share or 120.3%. This was my fourth sale of VIVO on this original purchase (I had briefly owned shares in April/May, 2004), and thus my targeted appreciation level was at 120% (having previously sold shares at 30%, 60%, and 90% levels).
On the upside, my next targeted sale will be a 1/6th position at a 180% level, which would be 2.8 x $11.13 = $31.64, or at a 60% appreciation level on the downside (1/2 of my top gain which would be the sale today at the 120% level) or 1.60 x $11.13 = $18.08.
Having sold a portion of one of my holdings at a gain, and being under my maximum number of positions I have planned (25), this "entitled" me to add a new position. And as I like to say, that nickel started burning a hole in my pocket right away (!) and looking through the top % gainers list I came across Angiodynamics (ANGO), which I shall write up later today, and it appeared to fit my criteria and I purchased 240 shares of this company at an average price of $26.21.
Anyhow, that's the update for now. I shall get cracking on the ANGO write-up. Regards!
If you have any questions or comments, please feel free to leave them on the blog or email me at firstname.lastname@example.org.