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.
I hope that all of you had a great time on the 4th.
I was down at the Riverfest but didn't catch the fireworks as this photo shows.
But this isn't about partying. This is about trading and managing a portfolio! So let me get down to business. Unfortunately, Gildan Activewear (GIL), a great company, and a strongly performing stock, hit an 8% loss in my portfolio. If I were to review the purchase, I would note that the chart looks a bit overextended. So this isn't a pan on the investment, it is a reflection of bad luck in entering a stock at the wrong time. But I shall be sticking to my rules now and in the future as much as possible. And I sold my Gildan Shares.
GILDAN ACTIVEWEAR (GIL) IS RATED A HOLD
So why did I rate the stock a 'hold' instead of a sell. Because the story appears to be intact, and I am selling my holding based on the performance within my portfolio, not because I dislike the company.
Anyhow, I sold my 210 shares at $33.11. These shares were purchased on 5/21/07 for $36.13. So this was a loss of $(3.02) or (8.4)% since my purchase.
Since this sale is on "bad news", even though I am now down to 19 positions, I do not have a "permission slip" to add a new position. I shall be waiting for a sale on "good news" which is a sale at an appreciation target, as a signal to add a new holding.
As you may recall, I sell my shares at 8% loss after an initial purchase, at break-even if I have sold once at a 30% targeted appreciation point, or at 50% of the highest appreciation sale percentage if I have sold more than once with gains.
Thanks so much for stopping by and visiting! Please feel free to leave a comment on the blog or email me at firstname.lastname@example.org with any of your comments or questions.