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 consult with your professional investment advisers prior to making any investment decisions based on information on this website.
I was feeling a little like Chicken Little earlier today, feeling for sure that the 'sky was falling'!
All of my stocks were hitting sale points and one by one I sold every single one of them except Covance (CVD). Perhaps that is the 'shake-out' everyone was looking for. I didn't panic. I just hit sale points!
I am literally now down to one position.
Global Payments (GPN) was the last to go. And also my latest purchase. I sold my 140 share position of GPN at $44.0805. I purchased Global Payments just three days ago (!!!) at $48.30. This represented a loss of $(4.22)/share or (8.7)% since my purchase. Global Payments closed higher at $46.66, down $(2.27) or (4.64)% on the day. With the stock rebounding well above my own 'Chicken Little' price, I do need to change my rating. However, I do think that a small change this time is in order...
GLOBAL PAYMENTS (GPN) IS RATED A HOLD
As I sold each of my holdings today, I did so in what I would call a disciplined fashion. I did not sell because of what I expected the market to do (if so the market reversed itself into the close to recover more than half of its dip), but rather simply based on the price performance.
I am literally down to one holding in my portfolio, Covance (CVD) which is still well above its sale point.
I now have four 'permission slips' to be adding new positions. I shall try to be relatively cautious (?) to avoid compounding my losses but shall look to pick up the highest quality stocks as I define them, that are performing well in a market that is also moving higher.
This part is the arbitrary and judgement part of the whole formula. As long as a stock fills the criteria I utilize, and the market itself appears to be moving higher, I shall consider picking up shares. If I do so, I am sure to share with you my thoughts and the details of this purchase.
Meanwhile, if you have any comments or questions, please feel free to leave them on the website or email me at bobsadviceforstocks@lycos.com.
Yours in investing,
Bob