IPCR was on IPCR was added to the $5.000/year Global Growth portfolio on August 4th 2008 when it closed at $31.91, its highest price since July 2007. At that time Mr. Navellier wrote:
Due to fewer natural disasters lately, IPC Holdings has been rallying.
The rally was actually over, as you can see in the chart.
From August, IPCR started to move sideway, but Mr. Navellier tried to push it with the following advices:
- August 11th: Buy Below $34.00
- August 18th: Buy Below $33.84
- August 25th: Buy Below $32.70
- September 2nd: Buy Below $33.76
- September 8th: Buy Below $33.79
- September 15th: Buy Below $32.15
- September 22nd: Buy Below $31.92
- September 29th: Buy Below $30.09
- October 6th: the decline had started and Mr. Navellier, far from settign a stop loss, just lowered the buy below price to $28.10
- October 13th: Buy Below $24.55 - disaster coming...
- October 20th: Sell Above $22.10!
As I said, IPCR finally went over $22.10 on Friday October 24th and Mr. Navellier realized a nice 30% loss. Let's say he was so smart to sell at the maximum of that day: $24.31. His loss would have been limited to 24%.
Interesting to note that every single buy below price in these 3 months was higher than the sell above price...
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