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.
With my partial sale of Meridian (VIVO), I now had a 'permission slip' to be looking for another position to add to my trading account. Especially at just 10 positions, I use a sale of a portion of an existing position within the account as a signal that moves me towards the 20 position maximum. My minimum holdings number 5 but I haven't gotten that close to that level yet. In that case, even with a sale on bad news, I would be entitled to add a new position as long as it 'qualified.'
With that nickel burning a hole in my pocket, I went right away to the top % gainers list. Lately, I have been starting with the list of top % gainers on the AMEX where I found Graham (GHM) trading strongly higher. Graham stayed on the list all day and closed at $47.35, up $3.00 or 6.76% on the day. I purchased 210 shares of GHM at $46.2699 earlier today for my account. (I buy strange numbers of shares like 210 because they are easily divisibly by 7 my portion of sales at gains).
I did a complete review of Graham (GHM) on October 27, 2007, after my loyal reader, Doug S. wrote me and suggested I ought to take a look at it.
I liked Graham then and even bought some shares which I held for a short period. Graham had just announced a very strong second quarter 2008 result, as well as a 5:4 stock split and an increase in the dividend. The Morningstar.com '5-Yr restated' appears intact and the 'point & figure' chart on StockCharts.com appears to be strong with the stock having recently pulled back from an over-extended position but staying well above support lines.
GRAHAM CORP (GHM) IS RATED A BUY
Anyhow, it was enough for me and I really appreciate seeing a name that I am already familiar with on the top % lists when I have the 'permission slip' to be buying! I bought shares. Wish me luck!
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