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.

Bolt (BTJ) had a tumultuous day today. closing at $51.53, down $(4.90) or (8.68)% on the day.  In fact, after hours as I write it is trading down another $(.54) or (1.05)%  on the day. And this on a day it was up 4% earlier on only to sell-off and take a big swing lower.

This is today's chart from Yahoo.  It isn't very pretty :(.

But I say "Part 2" in my title because we had this exact problem a month ago.  On June 8, 2007, I wrote up a note about Bolt because it was selling off about 8% in a single day.  I wrote:

"Bolt (BTJ) is having a lousy day in an otherwise up market.

In fact, as I write, Bolt is trading at $38.01, down $(3.40) or 8.21% on the day.  But why?  The Yahoo Message Boards are busy, with apparent short-sellers trying to talk down the share price.  The word according to these unconfirmed rumor-mongerers is that BTJ will be listed at a lower level on the IBD 100 listing that comes out each Monday in the Investor's Business Daily.  But I don't see any confirmation of that either."

In fact, the Message Boards are busy again. 

Let's take a look at the chart I posted just one month ago:

You can see the big price drop.

Now let's look at today's "point and figure" chart from StockCharts.com on Bolt (BTJ): (I have drawn in the 'rest of the chart' as Paul Harvey would say, after the last big correction!)

Will this happen again?  Will Bolt turn back higher and go to $100 or is it heading lower to $25. Frankly, I don't know.  My strategy is to sell portions of a quickly appreciating stock and I have done that already.   I have sold portions of Bolt at 30, 60, 90, 120, and 180% appreciation points.  I was nearing my 240% appreciation point sale when Bolt turned lower.  If the stock declines to a 90% appreciation level for me that will also trigger a sale on the downside.

Meanwhile I sit tight.

The stock has moved almost vertical in appreciation, and it is to be expected tha the stock will move lower before consolidating and moving higher once again....I hope!

Thanks again for visiting.  If you have any comments or questions, please feel free to leave them on the blog or email me at bobsadviceforstocks@lycos.com.

Bob