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, on my own arbitrary decision (I always reserve the right to make these!), I sold my remaining 61 shares of Coach (COH) at $46.25. Coach has been under pressure recently. Much like Starbucks it is a phenomenal success story. However, with my own sale of shares, I am reducing my rating on the stock.
COACH (COH) IS RATED A HOLD
Mostly, ever since Hank Greenberg wrote his column on August 26, 2007 on the possible challenges facing Coach, the stock has struggled to regain momentum. I think that once Coach demonstrates that it shall continue to post strong same store sales number and great quarterly results, the upward move of this stock shall resume. I do not believe the Coach story is over.
However, there are so many other intriguing stocks on the horizon. And with Coach stock down today while the market was moving strongly higher, I chose to 'pull the plug' on my remaining shares which actually are a very small position for me. I actually purchased my original shares of Coach (COH) at a cost basis of $8.33 on February 25, 2003, just before starting this weblog. Thus, the shares sold today were sold at a gain of $37.92 or 455.2% since purchase. It has indeed been a great investment for me!
I shall need to be cautious with these arbitrary moves like my sale of Starbucks. But I believe that if I can mainly stick with my investment strategy and use a little of my own thinking on these holdings, I shall be the better for it. It isn't exactly along the line of rules, but one of the problems facing me is the judgment of perhaps selling stocks which have made very large gains which do not fall to sale points yet appear to be struggling at least in the intermediate term. Time will tell if this was a good decision. As time will also reveal whether selling Starbucks was wise.
Thanks again for visiting! If you have any comments or questions, please feel free to leave them on the blog or email me at firstname.lastname@example.org.