Hello Friends! Today the market is talking to me. In fact it is SCREAMING at me. No, I am NOT hearing voices, but the price action is telling me to get out of stocks. At least two that are now hitting and passing 8% stops. GI blew past the 8% loss level, and in fact I just pulled the plug with about a 15% loss, MYL was sold with just over an 8% loss. Now down two positions from the previous 22 I believe....should be at about 20...with 25 our goal. I will try to SIT ON MY HANDS and not buy anything until I can sell a portion of a position at a gain. This is my gyroscope...tells me to back off of margin and reduce exposure to equities. Let's see if it works!
In summary, I just sold 300 shares of GI, my entire position, at $18.37. I JUST purchased these shares on 3/4/04 at a price of $21.72.
Second, I just sold my 200 shares of MYL at $22.66. These shares were purchased on 11/25/03, at a cost basis of $24.83.
There, got that taken care of. Now batten down the hatches and let's see if we can ride this out!
Thanks so much for stopping by! As always, please do your own due diligence on all stock market ideas listed here, consult with your investment advisors as well to make sure that actions on equities are suitable and appropriate for you!
If you have any questions, comments, or words of encouragement, please feel free to email me at bobsadviceforstocks@lycos.com
Bob