In my last post, I weighed selling Dupont (DD) before its earnings release. I succumbed to temptation/fear? and sold it on Monday for $52 a share, for a gain of 15.7%. Good thing, too, as it fell after earnings and I just learned that the idiots on Fast Money recommended it as a buy. A Fast Money recommendation always indicates to me that a stock will go lower. (Same thing with Jim Cramer and Harry Domash--at some point in the future I'd like to post about stock recommendations from these people.)
I think I'll have an opportunity to buy DD again in the low $40s at some point in the future. I can be wrong, of course, and the stock could go to $60. That's ok. I made my profit.
I feel a bit guilty, though. I like to think of myself as a buy and hold investor.
2 comments:
hey, so i really like reading your blog! your posts are really interesting, even though you admit to being no financial genius. so anyway, just wanted to get your opinion on something because clearly you are doing better in the market than i am. so one of my stocks basically died, it's being delisted from the nasdaq is so bad. it wasn't a huge investment, only around $350, and there's $80 of value left in 115 shares of the stock (yes its that bad). should i bother salvaging that $80? or just write it all off as a loss, and hope that maybe there is some sort of revival or someone buys the company??? i'd appreciate your opinion! i don't have many friends interesting in trading, so i don't have anyone to bounce ideas off of. thanks!
Hi Lauren,
Thanks for the kind words. See my 4/26/08 post as a reply to your comment.
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