ThePanelist.com - Sold the Rest of My Merck (MRK)

Sold the Rest of My Merck (MRK)

Written by David Neubert

Monday, 07 May 2007

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.