With my partial sale of Meridian (VIVO), I now had a 'permission slip' to be looking for another position to add to my trading account. Especially at just 10 positions, I use a sale of a portion of an existing position within the account as a signal that moves me towards the 20 position maximum. My minimum holdings number 5 but I haven't gotten that close to that level yet. In that case, even with a sale on bad news, I would be entitled to add a new position as long as it 'qualified.'
With that nickel burning a hole in my pocket, I went right away to the top % gainers list. Lately, I have been starting with the list of top % gainers on the AMEX where I found Graham (GHM) trading strongly higher. Graham stayed on the list all day and closed at $47.35, up $3.00 or 6.76% on the day. I purchased 210 shares of GHM at $46.2699 earlier today for my account. (I buy strange numbers of shares like 210 because they are easily divisibly by 7 my portion of sales at gains).
I did a complete review of Graham (GHM) on October 27, 2007 , after my loyal reader, Doug S. wrote me and suggested I ought to take a look at it.
I liked Graham then and even bought some shares which I held for a short period. Graham had just announced a very strong second quarter 2008 result , as well as a 5:4 stock split and an increase in the dividend . The Morningstar.com '5-Yr restated' appears intact and the 'point & figure' chart on StockCharts.com appears to be strong with the stock having recently pulled back from an over-extended position but staying well above support lines.
GRAHAM CORP (GHM) IS RATED A BUY
Anyhow, it was enough for me and I really appreciate seeing a name that I am already familiar with on the top % lists when I have the 'permission slip' to be buying! I bought shares. Wish me luck!
Thanks again for visiting! If you have any comments or questions, please feel free to leave them on the blog or email me at bobsadviceforstocks@lycos.com"> bobsadviceforstocks@lycos.com .
Bob
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$47.0 (01/11/08)
