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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (31364)7/4/2008 2:05:38 AM
From: Spekulatius  Read Replies (3) of 78740
 
UNH -
Health insurers (e.g. UNH) downgraded: "Health insurers tumble after analyst issues dire note"

Uugh. this stock really cost me. I made at least 3 mistakes and i can trace it back to breaking my trading/investing rules

Rule #1. When unexpected bad news hits sell. Don't ask questions and try to be smart about the exit point, just sell. this rule applies to unexpected turns in business performance, things that get put into 10Q/10k filings and it applies more to large caps than small caps. The reason: you are not the only one that want's out but as a small investor you can get out before the large institutions that hold millions of shares get out. use your advantage and wait for the carnage to unfold before getting in. The bad news hit with WLP first but later UNH was hit as well.

There were certain exit points that I did not use once the bad news kept coming. the stock continued to trickle down more. Even worse I switched some funds from WLP to UNH to harvest tax losses with WLP (assuming recovery of the sector). this made matters worse.
The last exit point was when UNH revised earnings, which first did not sound to bad but when analyst took the numbers apart the selling pressure continued.

What to do know. I sold my highest cost shares today. I also sold my highest cost shares in RYCEY (Rolls Royce) as well and used the proceeds to buy something else - BWP another pipeline MLP, more about that later.
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