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 my Coach (COH) stock hit its 9th targeted sale point (!). I just sold 14 shares of my remaining 85 shares at $45.82. These shares had a cost basis of $8.33, purchased 2/25/03, and thus I just had a realized gain of $37.49 or 450.1% on this purchase. I have previously sold small portions of my Coach stock at 30, 60, 90, 120, 180, 240, 300, and 360% appreciation levels! This has been a phenomenal ride!
When is my next sale targeted? This would be at a 540% level, going by 90% intervals at this point. Thus, of the remaining 71 shares, I would sell 1/6th or 11 shares if the stock should reach 6.40 x $8.33 = $53.31/share. On the downside, my new sell point, at which time I plan on selling all remaining shares, would be at half of my highest targeted point. Since my latest sale was at a 450% gain, then if the stock should retrace down to a 225% appreciation point, then all remaining shares would be sold. This price would work out to 3.25 x $8.33 = $27.07. All 71 shares would be sold at that point.
One other thing.
Since I only have 11 positions (of my targeted 25 position portfolio), this sale at an appreciation point gives me a 'signal' allowing me to add a new position. That nickel is already burning a hole in my pocket!
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