Friday, November 25, 2016

Selling High

As the market hit abother all time high today, I took the opportunity to sell a few stocks I have made money on.  I sold Target after owning it for only a little over 2 months.  I owned about $3000 in shares.  I made over $400 on it.  I would buy Target again but I think that it has rode the wave of a high market.  I also sold Coach.  I've owned that for over a year and a half.  I owned about $3000 of that stock.  I totally bought it on a whim but its done very well.  I sold for a profit of slightly over $500.  J also sold New York Mortgage Trust.  It is a high dividend stock.  I only had a little over $400 but I made almost $100 on it.  Mortgage rates are increasing and I thought it would be a good time to unload it.

I captured about $1000 in gains today and I have $6700 sitting in my investment account waiting for the next opportunity.

Anybody else selling when the market is high?

3 comments:

  1. Of course we do.
    Goes without saying, but you take into account taxes owed on thise gains, don't you?
    Hope your Thanksgiving was good!

    ReplyDelete
    Replies
    1. Yes, I thought about taxes. Coach and New York Mortgage Trust will be capital gains. Target will be taxed as regular income. I thought about waiting but it was too good a deal and I think I can pick Target up at a deal later. I would probably estimate around $300 in taxes. I also have Conoco Phillips that I own at a loss. I've thought about selling that to offset some gains but I hate to be sitting out when energy does turn. I'm keeping my energy and energy related stocks at this time.

      Delete
  2. We don't play the market yet since we don't have the income... but maybe this year our roth IRA's will get a little something by year end.

    ReplyDelete