Saul,
Looking back through some prior posts, on 4/12 you wrote:
APPY – This is a little company and a very small position for me (1%)… If you don’t have any, it’s a best buy for a very small position.
On 5/14 you wrote:
APPY – Sold out for cash.
As I try to understand your methods better, was this purely a (rarely occuring) case of selling off the unproven for the well-known, during the recent drop? Or, is there more to it than this? I note that the stock has continued to drop, so I’m very curious if you had any hunches or whatnot.
Thanks.
-Frick
On 5/14 you wrote: APPY – Sold out for cash. As I try to understand your methods better, was this purely a (rarely occuring) case of selling off the unproven for the well-known, during the recent drop? Or, is there more to it than this? I note that the stock has continued to drop, so I’m very curious if you had any hunches or whatnot.
Good question, Frick. I guess my very little positions tend to be experimental positions, to dip my toe in, get a feel for the company, and decide if I want to be in it. In May, we were in the midst of the sell-off of growth stocks, and I wanted to raise cash to buy other things. I probably decided that APPY was a really marginal stock for me and I would sell it for cash to buy other stocks that were much, MUCH, more reliable and underpriced after the sell-off. I did say explicitly in my post that I was selling out “for cash”, which to me mens to raise cash for other things. I know that it subsequently dropped off my radar completely and I never looked back to see if it was up or down after my sale.
Saul
Thanks!
Good question, Frick. I guess my very little positions tend to be experimental positions, to dip my toe in, get a feel for the company, and decide if I want to be in it. In May, we were in the midst of the sell-off of growth stocks, and I wanted to raise cash to buy other things. I probably decided that APPY was a really marginal stock for me and I would sell it for cash to buy other stocks that were much, MUCH, more reliable and underpriced after the sell-off…
That makes great sense, and it’s a case of “trading up”, an experimental position for a “solid” one.
-Frick
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Frick, if you don’t know how to italicize the text you are quoting (and you’d like to learn), the Fool tells you here:
http://www.fool.com/help/index.htm?display=community02#Styli…
under Styling Your Post.
Best,
Saul