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.
PRECISION CASTPARTS (PCP) IS RATED A BUY
A few moments ago I sold 10 shares of my Precision Castparts (PCP) stock at $151.79. This was 1/7th of my position of 74 shares. I now have 64 shares in my trading account. This is my 4th partial sale of PCP which has been an outstanding investment for me which was acquired at a cost basis of $69.05 on 10/24/06. Thus, on these particular shares, I had a gain of $82.74 or 119.8% since purchase. This was a sale at the 120% appreciation level, with my targeted sales being at 30, 60, 90, 120%. On the upside, my next partial sale would be at a 180% appreciation level or 2.8 x $69.05 = $193.04. On the downside, my targeted sale would be at 1/2 of this 120% appreciation level or at a 60% appreciation target. This works out to 1.6 x $69.05 = $110.48.
Since I am under my 20 position maximum (at 14 positions), this gives me a "permission slip" to add a new position. As I like to say, 'that nickel is burning a hole in my pocket already!'.
I shall be scanning the top % gainers list today and see if there is anything that meets my requirements. I shall keep you posted!
Bob