Hello Friends! Just wanted to update that trade I posted earlier. Here is the scoop: I sold my 300 shares of KYPH earlier today at $25.742/share. I had just purchased these shares on 4/5/04 at $28.16. Thus, I had a loss of $(2.418) or (8.6)%, and hitting the sell-point....out they went. I am also having some problems with the CGPI purchased yesterday (yikes), which is also flirting with the 8% loss level. Will keep an eye on that one and let you know!
What does all this mean? Well the market is always talking to you if you want to listen. I did NOT wait to sell a portion of a holding at a gain before buying the CGPI....and now look at it! When you start hitting sell points on what I consider quality stocks, it is time to retrench. Don't hesitate to sell if you hit your sell point...and don't jump in right away until you have a reason to think the market is behaving better...for us that mean't selling a portion of a stock at a large gain!
Thanks so much for stopping by! Remember to do your own due diligence and consult with your investment advisors! If you have any questions, comments, or words of encouragement, please feel free to email me at bobsadviceforstocks@lycos.com
Bob