Thursday, March 11, 2010

Time To Take Some Profits!

I am going to write an expanded post tomorrow, but for right now I want to announce that I am going to take some profits on two stocks: Citigroup ($4.18/share close) which is up 25.46% year to date, and United States Steel ($60.42/share close), which is up 36.98% since my purchase on February 4th. Nobody ever lost money taking profits, and this move frees up $2,591.60 in cash from the sale. When added to the current cash balance of $70.65 that was not previously invested, my cash balance of my portfolio is $2,662.25. I still like the long-term story of both of these stocks, and will look for a pullback to buy back in at a later time. As of right now, as I will detail in a later post, I think the market is overbought in the near term. My $10,000 starting balance is now worth $10,748.57, (7.49% total portfolio gain, a little over 8% on the invested balance, if you're keeping score at home) and I will look to build on that in the time ahead.

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About Me

DISCLAIMER: I started this blog as a way for people to exchange ideas relating to investing and finance, primarily. I am in no way a professional in these areas, merely a student of the financial world. The thoughts expressed on these pages have no connection to my employer in any way. Anybody reading this blog should do so with caution, exercise their own judgment, and do their own due diligence on any financial undertaking. About Me: I reside in New Jersey with my wife and my two dogs. I have a B.S. degree in Accounting with a minor in Finance, as well as an MBA in Accounting. Currently, I am employed as a forensic accountant, and am pursuing my CPA designation. I love the stock market, and picking stocks. I spend a great deal of time analyzing market data, as well as individual names.

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