Friday, October 24, 2008

Sell, Sell, Sell - Louis Navellier and IPCR

Finally Mr. Navellier was able to sell IPCR.

Today IPCR went over its Sell Above price of $22.10 and Mr. Navellier's $5.000/year paying subscribers were able to sell.

IPCR was bought on August 4th 2008 when Mr. Navellier told his subscribers IPC Holdings has been rallying.

Close price on August 4th was $31.91 and buy below was $33.20.

On August 11th the buy below price was raised to $34.00 according to Mr. Navellier's strategy: high prices -> buy, low prices -> sell.

The 18th of August the buy below limit went down to $33.84 and stayed abuve $30 until end of September 2008.

I suppose many of Mr. Navellier's paying readers bought IPCR above $30 between August and September.

IPCR started to decline between September and October 2008. See the chart here but until October 13th IPCR was a buy below $24.55.

On October 20th IPCR entered Navellier's Sell list with a Sell Above price of $22.10:
Bermuda’s IPC Holdings (IPCR) will report its earnings on Friday, October 24 at 8:30 a.m. EDT, about an hour before the market opens. So watch to see if we get a bounce at the end of the week—and if we do, sell into strength!

It did, so buying at $31.91 and selling at $22.10 makes a loss of 30% for $5.000/year spending subscribers...

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