First trade done in 2017

opinions-on-whether-to-buy-or-sell-57a0d5015f9b589aa9d13315.jpg

It has been a while since I sold any stock.

Today I have sold the Fastenal Co. stocks I owned. It is still a relatively new stock in my portfolio. I bought these stocks in Aug 2015. After selling the stock, I booked an approx. 42% profit.

Frankly, I do not enjoy selling any stocks. However given the run up in the US market, I reckon it would be prudent to trim down my stock holdingĀ and increase my cash holdings.

The stock price of FasternalĀ itself has been on a tear over the past three months plus.

Fastenal shares spike after earnings, hit 52-week high (read here)

The P/E TTM of Fasternal is 29.59, slightly over the stock PE 5 yrs average. Not particularly high, but not cheap either. 2015 and 2016 are not exactly great years for this company.

The good quarterly earning is a welcome change from …

Read the full article →

Leave a Reply

Your email address will not be published. Required fields are marked *