Should I start selling off some for a quick profit, or should I hold? What is the general rule of thumb?
For example, I bought JWN (Nordstrom) during the summer, and it is up almost 40%. Should I sell now, and buy more, or just hold?
I’m new to all of this, but so far, overall, my portfolio is up 20% from when I started about six months ago. I’ve chosen mostly retail stocks. I just pick stores that I like and that seem to be doing well. Not a brilliant strategy, but it has worked.
Now, I’m thinking it might be a good idea to use more of a buy and sell strategy. I know there is some benefit to holding a stock for more than a year. It seems like day trading could be more profitable for me–especially since my strategy for picking stocks seems to be working.
Any ideas???
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blacksockbandit 20th February 2010
I would sell before the end of the year. With the height of Christmas shopping here, the companies might do really well and the stock could go up even higher. Or, shoppers could be tight with their money and the stock could plummet. If you’re up 20% in a year, that’s a GREAT time to sell it and reinvest.
Retail is extremely volatile and the stocks are totally subject to media coverage. For example, if Fox News decides to run a story about how shoppers are pulling back, then their millions of viewers will pull back their spending and retailers will make less. If you’re up 20%, sell it off.
And be patient when looking to buy back in. The market typically has annual cycles. If you can sell and wait until early next year you might be able to buy in much, much lower.
For heaven’s sake, DIVERSIFY! Put some money into other markets, such as banking, manufacturing, technology, real estate or medical.
Do your research, and good luck to you. Congratulations on your good returns this year.
petter 20th February 2010
Well for that you should see
http://bizsolbiz.com
i hope that resolve your problem. answers.yahoo.com
David 20th February 2010
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