Sold the Rest of My Merck (MRK)

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Neubert's Trades

Sold the Rest of My Merck (MRK)

Written by David Neubert

Monday, 07 May 2007 10:01

In my ongoing search to look for stocks to sell in this rising market, I found one. I bought Merck at around 29 early last year. I sold some (1/3 of my position) in June at around $35.

Today I sold the rest of my position at $51.89. I am out of Merck. As a way to keep myself involved I sold a few Jan 2008, 40 strike puts.

Disclosure:
I still own a small position in Merck (MRK) in the company's Dividend Reinvestment Plan (DRIP), which I started back in the early ninties when commissions where high. A Dividend Reinvestment Plan makes no sense in these days of super discount low commissions. Why aren't I selling my DRIP shares? My tax basis is way too complicated to figure out.