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HopefulRichKid1 (52.97)

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Pros and Cons on making a good gain 2 weeks ago

November 24, 2011 – Comments (4) | RELATED TICKERS: BKS

2 weeks ago I traded my 625 shares of Barnes & Noble (BKS) at $13.64/share.  The avg cost for the shares was $11.44, and after it was all settled I made $1,364.47 (not too bad for a college kid).  I decided to trade the stock expecting that it would only be a matter of time before it would drop in price, as it had been following the same pattern for the past few weeks (going up to the low $13 range, then dropping to the $10.90 area).  And 2 weeks later BKS reached as high as $17/share, which I had forecasted in myt CAPS rating of the stock back in August.  Its a kick in the pants knowing that had I gone with my true gut feeling, I could have made an extra $2,500 more than I ended up with, but it also is a message of saying that once you make a trade, live with it and don't look back.  And besides, the stock has dropped $1.50 since then, so if it goes back to the $11/share area there is no reason why I can't hop back onto the BKS train, as I still believe their stock is going to greatly benefit from the Nook.  [more]

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