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My Personal Finance Journey

Personal finance observation, musing and decisions in a journey toward financial independence by 36 with at least $1 million.

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TRADE #28 - Sell NTBK 200s @ $11.68 in Datek



Today I sold 200 shares of NTBK @ $11.68 in my Datek account.

Now that online banking is not rocket science, I growingly feel that this stock is no longer a growth stock with high appreciation potential and has become a bit complex to evaluate. With an earning of $0.22 in the first quarter and up to a dollar earning in estimate for the year, the stock is not very cheap compared to peers in the banking industry, not to mention its mortgage banking profitability is sensitive to interest rate climate.

This move is motivated by need of peace of mind before my scheduled vacation in early June. Also, I have some liquidity needs because I'm eyeing at opportunities to buy my house in the near future. To that end, I'm considering liquidating other positions like CI and S right now.

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This post has 1 comment. Read and share your opinions.
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Comments
>>> mm Commented on October 20, 2003

In retrospect it's not good timing. The Congress passed bill to reduce long-term capital gain tax rate from 20% to 15%. If I can hold this position for another 1.5 months the capital gains will be eligible for the reduced tax rate.


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