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.
A few moments ago I noted that my Hologic stock (HOLX) had hit the 8% loss level and I sold my 120 shares at $50.80. These shares had been purchased 1/31/07 at $55.58, so I incurred a loss of $(4.78) or (8.6)% since purchase.
I am now down to 17 positions. With a sale on "bad news", I am not 'permitted' to go and look for something else to buy. I don't need to read the headlines on the miserable stock market conditions. My own portfolio is talking to me loud and clear. And I shall be sitting on my hands monitoring my other stocks as my portfolio more or less 'automatically' is shifting its emphasis from equities towards cash.
This sale is not a reflection of my feelings towards Hologic. Perhaps it should be. I still just about love the company. But my 'portfolio management system' is doing its job. It is forcing me to unload my recent positions and pull back from an aggressive stance as the correction unfolds.
Thanks so much for stopping by and visiting my blog! If you have any comments or questions, please feel free to leave them right under this entry or drop me a line at bobsadviceforstocks@lycos.com.
Bob