Dumped Some NT, Bought Some PGJ

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.

This article was originally written or modified on . If you enjoyed reading this post, please consider subscribing to my full RSS feed. Or you can also choose to have free daily updates delivered right to your inbox.

Author Info

This post was written by Sun You can find out more about Sun and his activities on Facebook , or follow him on Twitter .

One Response to “Dumped Some NT, Bought Some PGJ”

  1. Golbguru |  Jan 16, 2007 at 3:49 pm

    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:


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