Citigroup (C): Profit-Taking

While I don’t think Citigroup (C) is a poor investment as far as banks go, it’s definitely not Best-in-Breed JP Morgan (JPM), the other bank in the basket.

Given how badly the financial sector is performing combined with the potential for epic losses due to companies and consumers not paying credit card bills and other debt, I decided it was time to actively reduce my position in Citigroup.

On Wednesday, I started to trim with a sell order at $52.24 taking +15.35% in gains on shares I bought on March 12 for $45.29. The sale reduced my per-share cost relatively insignificantly from $51.96 to $51.95 (yes, I like numbers that end in zeroes or fives).

My next sell target for the stock is around $54.60 with my next buy target near the March lows at $34.70. While it’s true I’m trying to reduce the position, if I still hold the stock and it sells off that dramatically again, I will certainly add back into it.

C closed the week at $51.67, down -1.09% from where I sold Wednesday.

IDEXX Laboratories (IDXX): Profit-Taking

IDEXX Laboratories (IDXX) may be one of the most under-the-radar home-run plays for the pandemic – veterinary supplies and pet treatment development. If you’re not a user of social media, I don’t blame you, but if you do have Facebook, I’d bet folding money that you’ve seen a never-ending onslaught of friends, family members, and random people adopting dogs, cats, turtles, spiders, and whatever other pet you can imagine during this pandemic.

And what will they all need? Veterinary treatment. No company offers better veterinary solutions and products than IDEXX Labs and it shows as the company’s stock continues to make new all-time high after new all-time high.

Despite my faith in the ongoing success of this outstanding company, it was time to make more profits on Wednesday when a sell order of mine filled at $367.87, locking in +57.82% in gains on shares I bought March 16 for $233.09. The sale also lowered my per-share cost -27.10% from $106.98 to $77.99.

My next sell target for the stock is near $430.00 and my buy target is $283.60.

IDXX closed the week at $359.23, down -2.35% from where I sold Wednesday.

Skyworks Solutions (SWKS): Profit-Taking

Skyworks Solutions (SWKS) made an attempt at breaking its all-time high of $138.22 before it reported earnings this week, prompting me to take profits once again in the name. Despite my faith in the long-term 5G prospects of SWKS, when I have gains of this magnitude, it’s time to take them.

On Monday, my sell order filled at $137.85, taking +89.64% in gains on some of the shares I bought back on March 16 for $72.69. Monday’s sale lowered my per-share cost -2.82% from $86.44 to $84.00. My next sell target for the stock is around $147.25, and my buy target is $83.80.

SWKS closed the week at $131.61, down -4.78% from where I sold Monday.