Hello Friends! Thanks so much for stopping by and visiting my blog, Stock Picks Bob's Advice! As alway, 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.
My Kyphon stock made a nice move higher today. As I write, it is trading at $47.80, up $2.75 or 6.10% on the day. A few moments ago, I made my second sale of Kyphon (on this particular purchase), selling 1/6th of my 150 shares or 25 shares at a price of $47.83. My Kyphon shares were purchased (this round...I had one other purchase and sale of Kyphon), on 5/20/05, with a cost basis of $29.21. Thus, I had a gain of $18.62 or 63.7% on my shares, triggering my second partial sale of 1/6th of my holdings.
I had earlier (7/8/05) sold 50 shares (which at that time was a 1/4 sale of my position), at a price of $37.98, which worked out to a gain of $8.77 or 30%.
If you are new to my blog, basically I sell my positions quickly if they hit a targeted loss (for instance an 8% loss after an initial purchase) and sell my appreciating stocks slowly and partially as they appreciate. My current targets are at 30, 60, 90, 120, 180, 240, 300, 360, 450, 540%....etc. appreciation levels.
If I am under my full portfolio (for me 25 positions), then this entitles me to add a new position, as long as the new stock meets the same criteria I use on this blog....on the top % gainers list, etc. Since I am at 12 positions, I now have a "permission slip" to go and buy a new stock.
That nickel is burning a hole in my pocket already!
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