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Thursday, 17 January 2008
Precision Castparts (PCP) "Trading Transparency"

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.

This afternoon, when the selling pressure became more severe, my Precision Castparts stock, which was actually moving higher originally, turned lower and hit a sale point and was sold.   I sold my 64 shares of PCP at $108.79.  I had actually purchased these share on 10/24/06 at $69.05 so realized a gain of $39.74/share or 57.6% on these shares since purchase. 

You might be asking the why of my sale.  Why did I sell the stock NOW when the stock was ahead by 57.6% since purchase?  

In fact, this sale was dictated by my own trading portfolio management system.  That is,  since I had sold shares four times previously at approximately 30, 60, 90 and 120% appreciation points, on the downside my sale price had been moved up to 1/2 of my highest appreciation sale or 1/2 of 120% = 60%.  Breaching this 60% appreciation level, I went ahead and sold my own shares.

With this sale on 'bad news' I am once again 'sitting on my hands' and my own portfolio is now down to 9 positions.  My 'system' is working, albeit slowly, to move me gradually out of equities and into cash as the market correction and possible bear market develops.

Since the latest quarterly report was strong, and the Morningstar.com report is also quite strong, I am reluctant to move the rating to a "sell", however, with my own sale of shares on what I would call technical reasons, I am reducing my rating of this stock:

PRECISION CASTPARTS (PCP) IS RATED A HOLD

Thanks so much for stopping by and visiting!  If you have any comments or questions, please feel free to leave them on the blog or email me at bobsadviceforstocks@lycos.com.  Furthermore, stop by and visit my Covestor Page where my own trading portfolio is analyzed, and my SocialPicks page where all of my past picks can be monitored from 2007 on.   And if you get a chance, drop by and visit my Podcast Page where my own podcasts are posted. 

Now you are surely exhausted :).

Hopefully, tomorrow will be a bit better for all of us.

Bob 


Posted by bobsadviceforstocks at 9:19 PM CST | Post Comment | Permalink

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