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 amagteur investor, so please remember to consult with your professional investment advisers prior to making any investment decisions based on information on this website.
That bear market is gnawing at my portfolio! (Or is it a bear yet? Supposed to be a 10% correction---it ought to be close). My recent purchase of BMC Software (BMC) was undone this morning as the stock hit an (8)% loss and I sold my 210 shares at $31.61. These shares were just purchased on 11/7/07 at a cost basis per share of $34.43. Thus, my loss was $(2.82)/share or (8.2)% since purchase.
Since I don't know of any fundamental difference between when I purchased the stock and now, except that the market is weak and most stocks are down, even though I have now sold my own shares,
BMC SOFTWARE (BMC) IS RATED A HOLD
Regarding what I do with the proceeds, since this is a sale on 'bad news', that is a decline in stock price, I 'sit on my hands' with the proceeds. That is, I am shifting from equity towards cash as I would want my portfolio do do in a weak market. But I don't really need to think about it. I just need to pay attention and listen to what my own shares are telling me to do!
Thus, I am now down to 13 positions (from a maximum of 20 and above the minimum of 5) and shall be waiting for some 'good news' to add a postion.
Thanks so much for stopping by and visiting. Please feel free to leave any comments you might have, otherwise you can certainly email me at bobsadviceforstocks@lycos.com with your comments or questions. I read all of my emails but don't have time to answer all of them.
Bob