Last Saturday, I mentioned that UTStarcom took a big hit last week and plunged to 6% below our buy price. I wrote: “Looking to the downside, at 8% below our buy price I will sell half, with the other half to follow at 10% below.” Unfortunately, we hit both of those, with the stock closing today at $14.26, 14% below our entry at $16.59.
I’ll put this on the books with an average sale price of $15.10, a 9% loss, which you can verify here.
Meanwhile, I sold half of my Maxtor position at $5.30, locking in a 63% gain there. The other half is rising higher. Let’s hope it sees $6 before sinking over the summer.
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