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Sunday, July 25, 2010

Big losses lead to Big gains

I bought BXC at 3.25 about a month ago. After I bought it it did very well, but my vacation prevented me in selling the stock, so I had to hold onto it. After my vacation the whole market crashed. Greg and I saw it coming because of the news and fundamentals of the market. I decided to wait it out because I knew that BXC has the potential to come back quickly from losses. The stock dropped all the way to 2.60. But then this week a company bought out BXC and the stock price grew 40% and I sold it at $3.65. That gave me a 7% profit, which puts me at an overall 25% gain since April. Goal=20% Actual=%25. This means i am ahead of our goal of 5% a month. I will continue to try to exceed the goal and buy a stock next week. All the stocks are up right now, so i am going to wait for a good down day to get back in.