Patrick's Rants



5/24/2011

I Blinked

Filed under: Money,Stocks — site admin @ 7:43 am

I blinked on 1000 shares of ABAT. I just did not feel like I could keep holding a single stock so heavily in my account and I sold for slightly over half of what I paid. This doesn’t mean that I’m completely out, but I just couldn’t hold that much weight in a single stock comfortably. I’m now selling covered calls on what I have left. These are call options on the remaining shares that I hold, selling them on the $2.50 strike, next month out. It’s a long slow way to “recover” from the beating these shares have taken.

On the flip side of this, it doesn’t appear – based on a quick glance at the news – that any attorneys have picked up their needed lead plaintiff yet.

Only time will tell if I blinked too soon or if I will recover my outlay.


This is my own account, do your own legwork and consult your own experts

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