Hello Friends! Thanks 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.
A few moments ago, my Bolt Stock (BTJ) was at a sale point. The stock actually hit the 120% appreciation level (my fourth targeted sale point) Thursday prior to the close, but I didn't realize this before the market trading day was done. This morning, I sold 25 shares of Bolt (BTJ) at $38.83. This represented 1/7th of my holding, my new strategy, of 175 shares. I now have 150 shares remaining.
Bolt was purchased only a few months ago, on 1/12/07, and I have already hit four sale points on this stock. My cost basis on these shares is $17.44, so these shares were sold with a gain of $21.39 or 122.6%.
On the upside, my next targeted sale would be at a 180% appreciation level or 2.8 x $17.44 = $48.83, at which time I now plan on selling 1/7th of 150 shares or 21 shares. On the downside, if the stock should drop to 1/2 of my highest sale point or a 60% appreciation level, which would be 1.6 x $17.44 = $27.90, then I would be planning on selling all remaining shares.
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That nickel is burning a hole in my pocket already!