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.

Earlier today, in the midst of the continued market correction, my recent purchase of Movado (MOV) was 'undone' and I sold my 210 shares of MOV at an average price of $29.57.  I had literally purchased these shares just days ago on 12/11/07 at a cost basis of $32.14.  Thus, I had a loss of $(2.57) or (8.0)% since purchase.  The 8% level is the loss point which triggers a sale (I use a 'mental stop' and do all of this manually) of a stock after an initial purchase.  It doesn't really matter to me how long I have held a stock, how much I like this stock, and whether I think it is the stock market, the stock itself, manipulation in trading, or the price of tea in China.  A signal is a signal and out it went.

Furthermore, with a sale on 'bad news' like this, I do not have permission to add a new position to replace Movado.  I have to 'sit on my hands' and stay at what now amounts to a portfolio level of 12 positions (below my maximum of 20 and above my minimum of 5).  I shall be waiting for some 'good news', whenever that may come, to add a new position.  By this means, my portfolio moves in a more-or-less 'automatic' fashion towards cash and away from equities as the bear growls on Wall Street!

With my own sale of Movado, I am reducing my rating:

MOVADO (MOV) IS RATED A HOLD 

Thanks so much for stopping by and visiting!  I wish I had something more encouraging to greet you with than another gloomy sale.  But investing is both about making money in a bull market and preserving your assets during corrections.  I work at both of these and shall share with you the results of my efforts---whether they be successful or less than stellar.

If you have any comments or questions, please feel free to leave them on the blog or email me at bobsadviceforstocks@lycos.com.  If you get a chance, be sure and visit my Covestor Page where all of my transactions are reviewed from my actual trading account, my SocialPicks Page where my stock picks are analyzed from the blog, and my Podcast Page where you can download an mp3 of me discussing one of the many stocks reviewed on this website.

Wishing you all a successful and happy week trading and investing!

Bob