Sell Selection – July 2017
To close the month of June, I decided to sell a position in my portfolio, not for a lack of belief in its long tem success, but to clear more capital for a potential buy opportunity. Getting out of this industry will, most likely be temporary. Some times it is wiser to move on from a holding if you no longer believe it to be a home run or feel there is a superior offering in the same industry.
The position I sold this past Friday was Discover Financial Services (DFS) at a specified price of $62.50. Since I initially purchased the stock last June, this will be deemed a long-term capital gain at a return of 12%.
The sale price was $1,062.50 minus a trading fee of $7.00, therefore putting $1,055.50 into my cash available to trade wallet.
Stay tuned for the next buy selection.