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.
I wanted to update you about my holding in Meridian (VIVO), and my 'trade' that I made going against the tide, buying shares in a company that I truly admire, and a company that has been my best performer long-term.
Sitting with a bunch of margin didn't really make me feel great in contrast to my trading strategy of methodically buying and selling portions of my relatively small positions. It just isn't me!
So with Meridian bouncing higher today, I sold 1000 shares of my 1500 remaining 'trade' position (out of the original 2000 shares). 500 shares were sold at $25.20, and 500 shares were sold at $26.03. Recall that these shares were JUST purchased at approximately $23.98 (I had several lots purchased to make the 2,000 share position), on 7/17/08, just last Thursday!
I still have 500 shares of this trade remaining. I shall try to be a bit more patient with the stock which as I write is trading at $25.00, up $1.04 or 4.34% on the day. It still represents a big 'chunk of change' for me but it is a level I can tolerate for now.
Trading stocks, as opposed to investing, involves an entirely different set of disciplines, and I do not believe I have those skills....although I continue to work at them....and you have to admit, this last trade has worked out nicely thus far!
Anyhow, I wanted to keep you all posted. I am planning to get back to my original 171 share position and then manage it as I have been all along, with the cautious and timely transactions that define my 'strategy'.
Yours in Investing,