Hello Friends! Well it was a bit of a roller-coaster day in the market. I kept waiting for my Cantel (CMN) to hit a second sale point (at around 60% gain), but the stock would not oblige me and stayed at the 58% gain point. So I sat on my hands! However, I was browsing through my stocks and realized that I had overlooked my Starbucks (SBUX). Now unfortunately, I never bought a lot of SBUX, and have sold it several times since purchasing....in fact, my shares were all acquired on January 24, 2003, at a cost basis of $22.81/share. I sold my first 25 shares on 9/8/03 at a price of $28.47, for a gain of $5.66 or 24.8%, the second sale was 15 shares on 1/23/04 at a price of $36.16, or a gain of $12.35 or 54.2%, the third sale was 15 shares at a price of $43.89 for a gain of $20.58 or 90.2%. So you can see, I was selling about 1/4 of my holdings each time at nearly 30%, 60%, and 90% positions.
Today, having only 45 shares remaining (unfortunately), I noticed that the stock was selling at $58.69 (where I sold it) or a gain of $35.88 or 157.3%. I totally slept through the 120% point!!!. So I sold 10 shares at $58.69, leaving 35 shares remaining. My next target will be at a 180% gain (!)...and I might even get there!
Thus, even though this morning I sold a stock at a loss (NAVR), I sold a portion at a gain this afternoon putting me once again in the position of being able to add a new position to my portfolio! And CMN might even hit a sale point soon!
Thanks so much for stopping by! Please remember that I am an amateur investor, so please consult with your professional investment advisors prior to making any investment decisions based on information on this website. If you have any questions, comments, or words of encouragement, please feel free to email me at bobsadviceforstocks@lycos.com .
Have a great weekend everyone!
Bob