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.
The stock market is making a less than convincing continuation of the rally from Friday, at least thus far today. Most trading seems to occur in the last hour of the day, so I shall reserve judgment.
However, earlier today my Satyam stock (SAY) hit a sale point at an (8)% loss since purchase and I sold my entire position of 210 shares at $23.468. With this technical weakness,
SATYAM COMPUTER SVCS (SAY) IS REDUCED TO A HOLD
These shares were just purchased 4/20/07 at a cost basis of $25.55/share. Thus, I had a loss of $(2.082)/share or (8.15)% since purchase. This is my sale point after an initial purchase of stock regardless of the duration of my holding. It is indeed rather arbitrary but it allows me to limit my losses to some 'acceptable' level before unloading shares.
I am now down to 15 positions. I shall be waiting for a 'buy signal' from one of my existing holdings before moving to 16. Meanwhile, I shall be 'sitting on my hands' as patiently as possible.
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