Shortly after selling my Harris Stock I was pleased to see that not all of my stocks were 'falling out of bed' today and that Meridian Bioscience, one of my most successful of holdings had moved higher to another appreciation target. Thus, I sold 1/7th of my 199 shares or 28 shares of VIVO at $34.43/share. Meridian (VIVO) was purchased almost 3 years ago on 4/21/05 with a cost basis of $7.42/share (!) giving me a gain of $27.01/share or a 364% appreciation on these shares.
This was my eighth partial sale of Meridian in my account having previously sold portions at 30, 60, 90, 120, 180, 240, 300, and now 360% appreciation levels. When would I sell next? On the upside, after four 60% intervals, I shall be using 90% intervals and shall wait for a 450% appreciation level for another 1/7th sale. This would work out to 5.5 x $7.42 = $40.81 before triggering another sale.
On the downside, after multiple sales, unless there is some fundamental reason to sell sooner, I plan on selling if the stock retraces to 1/2 of its highest appreciation sale point which would mean instead of a 360% gain level, 1/2 of that would work out to a 180% appreciation level or 2.80 x $7.42 = $20.78.
Furthermore, with only 10 positions in my account (after my sale of Harris), this sale at a gain gave me a 'buy signal' which allowed me to go looking for another stock to buy. And I found a great prospect in Graham (GHM), a recent favorite of mine. More in the next entry :).
Meanwhile, since I am selling my Meridian shares on 'good news', my rating is unchanged:
MERIDIAN BIOSCIENCE (VIVO) IS RATED A BUY
Thanks again for stopping by and visiting my blog! If you have any comments or questions please feel free to leave them on the website or email me at bobsadviceforstocks@lycos.com .
Bob
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$35.4 (01/11/08)
