One of the stocks that I have purchased, C. B. Richard Ellis (CBG), has dropped off my buy list. This stock has been down since my purchase on April 20, 2007 at $36.39. My plan, per my stock selling strategy, is to sell into a rally.
However, today CBG rose $4.74 or 14.09% to $38.39. CBG reported excellent earnings after the close yesterday. Excluding one time charges, CBG earned $0.27 per share, an increase of 58.8%versus $0.17 a share for the quarter last year. Given this great news, I will continue let CBG run until it appears to have peaked, which is also part of my selling strategy. At that time, I will sell CBG since it is no longer on my buy list.
In addition, Cognizant Technology (CTSH), which I have not yet purchased, dropped off my buy list. Today, it dropped $4.11 , or 4.65%, to $84.36 on concerns of slowing growth. It was fortunate that I had not purchased it yet:-)
At this time, the only stocks that remain on my buy list are: Coach (COH), Avnet (AVT), which I own, and Albemarle (ALB).
For more on The Practice of Personal Finance , check back every Wednesday for a new segment.
This is not financial advice. Please consult a professional advisor.
Copyright © 2007 Achievement Catalyst, LLC
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