Sometimes You Got to Let Your Baby Go

Well, I finally sold all of the shares of ACAS I had with Sharebuilder (I still hold 66 shares with Zecco). I was very hesitant to get rid of this as I think it will eventually go up significantly eventually - but there is a lot that could happen.

I originally purchased ACAS at about 72¢ a share in March. That was one of my best investments. I purchased some more at $2.01, $2.09, and $2.66. I was an idiot and in May I purchased $1123 worth of shares at $4.61 and $4.75. The stock had risen quickly over the past few days and I thought it would keep going up. Well, it didn't - that's what happens when you chase a rising stock.

ACAS paid out a dividend in stock in August. I got 174 shares (worth $562.87 at $3.36/share). Unfortunately, a few weeks later the Call Options I sold were called, and I lost not 200 shares but 266 shares. I made a total of $575.76 all total from the option.

I really wanted to keep the 434 remaining shares, but I think it would be best to put this money directly on my mortgage. Furthermore, I don't think we are out of this recession yet, so I am expecting a general decline in stocks. ACAS has also stopped paying dividends on a regular basis - so their next dividend wouldn't have to be paid until September of 2010 - and that's IF they have a profit to pay out.

Turns out that it was very good to have sold my shares when I did - I sold at $3.46 a share on September 29. Today it closed at $2.92 a share - 54¢ less.

I ended up making $388.19, so I'm thankful I did make a profit. However, if I had not done the options, I would have made $732 profit.