Dumped Some NT, Bought Some PGJ

Posted by Sun on January 16, 2007
Advertisements

So far Nortel (NT) is the biggest loser in my stock portfolio, losing about 45% of the value on paper. The last time I bought NT shares was August 7, 2006, when I added 320 shares at $2.00 a piece (now that’s equivalent to 32 shares at $20.00/share after the reverse split). I have been thinking of unload some NT shares as I didn’t see much hope of this stock getting close to the price three years when I bought 1000 shares at $6.67 any time soon. I will be lucky to be just break even.

The stock had some nice run after its split in November and is currently traded above $27.00, so I finally pulled the trigger and sold 72 shares of NT this morning at $27.07/share (I could have got a little more back if I waited a little longer). The proceeds were then used to buy $100 shares of PGJ, PowerShares Golden Dragon China ETF at $21.28. In contrast to NT, PGJ is my second best performers, only behind LFC.

After today’s transactions, I still have 200 shares of NT and the shares of PGJ I own increased to 500. I am betting on China. NT is just a pain that I want to put behind me.

If you found information on this Diary helpful, please consider subscribing to the full RSS feed (What's RSS feed?), or enter your email below to receive free daily update.

Your address is secure and will only be used to deliver the contents of this Diary. You can unsubscribe at any time.

Related Articles You Don't Want To Miss
Categories : Investing, Stock

One Comment
January 16, 2007

Sun, I saw your comment at the MBN forum. :)
You can join this network, if not Flexo’s network:
“Investors Blog Network”
Here is the email of the coordinator:

hsayoub@biohealthinvestor.com

Tell him I sent you:) …you will be welcomed :)

Posted by Golbguru

Sorry, the comment form is closed at this time.

invisible tracker