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 advisor prior to making any investment decisions based on information on this website.
Earlier this morning, my FMC Technologies (FTI) hit my 8% loss limit and I sold my 160 shares at $48.12. I had just purchased these shares 1/30/06 at a cost basis of $52.37, so this represented a loss of $(4.25), or (8.1)%.
This doesn't really change my personal opinion of the company, but my timing worked out poorly, buying an oil-services-related company just as the oil market was correcting. Rules are rules, and the stock is gone. As with my own strategy, I shall be 'sitting on my hands' waiting until one of my remaining 21 positions hits a sale at a gain target, prior to adding a new position.
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