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 my Immucor (BLUD) stock hit a sale point at an (8)% loss. I sold 154 shares at $34.90. These shares were purchased only a couple of weeks ago, on October 4, 2007, at a cost basis of $38.02. Thus, I had a loss of $(3.12)/share or (8.2)% since purchase.
Since this was a sale on "bad news", meaning a loss, I shall not be reinvesting the proceeds, but instead moving this towards cash (and actually paying down the margin a bit). I shall be waiting for a sale on "good news" to be adding a replacement to my portfolio. I am now down to 14 positions, under my maximum of 20 and well above my minimum of 5 positions.
Hopefully, this system of 'listening to my own holdings' and moving towards cash makes sense at this time. As my stocks drop in price, I feel as if I am really the amateur investor that I talk about non-stop. But I am glad that I have some sort of disciplined approach to deal with all of this. I know that in the past I would have been over-reacting with each swing of the market. Time will tell how successful I am in this strategy; wish me luck.
With this sale of my own position of Immucor, I shall be reducing the rating on the stock:
IMMUCOR (BLUD) IS RATED A HOLD
I am as guilty as the analyst who writes hold and means sell. I do this because my sale is not based on anything fundamentally wrong with the stock. It is simply that my timing wasn't good. Thus, if you don't have a loss in the stock, I indeed would otherwise be recommending a "hold".
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