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 advisers prior to making any investment decisions based on information on this website.
I had an email the other day suggesting that maybe my Angeion purchase was a bit too volatile to be held long term. I don't know about that, but certainly with my 'disciplined' trading strategy, any new stock addition is subject to a quick sale even if the long-term prospects seem just fine. Especially if they are a lower-priced and relatively thinly traded stock like Angeion. O.K. enough excuses. I was checking my portfolio this noon and noticed that Angeion had hit and actually exceeded my 8% loss limit on a holding. Even if it is true that I had just purchased it.
So a few moments ago I sold my 300 shares of Angeion at $13.77. If you can believe it, as you must probably know, I just purchased Angeion (ANGN) for my trading account just two days ago (!) on the 13th at a price of $15.09. Thus, this represented a quick loss of $(1.32) or (8.75)% on this trade. I don't care if I have held a stock for two hours or two days, if the stock hits that 8% loss, out it goes. Furthermore, since this is a sale on 'bad news' (do I need to explain that taking a loss is bad news?), I use this as a 'signal' that things aren't perfect in my portfolio so I 'sit on my hands' and shall not be using the proceeds for anything (except to pay down my growing margin balance.)
Thanks so much for stopping by and visiting! If you have any comments or questions, please feel free to email me at bobsadviceforstocks@lycos.com or just leave your comments on the blog. If you get a chance, be sure and visit my Stock Picks Podcast Website. And if I get a chance, I shall have to get around to a new podcast. It has been a few weeks and I need to put together a new 'episode'.
Bob