New to stock - question about Tribune Co

Harold · #1 (**permalink**) 12-23-08, 01:27 PM

I purchesed 500 shares of Tribune Co @ .60 a share. Can't tell you why...just that it might be good. Well it has gone up over 400% since I did. How do I know when to sell?

Stocktrading101 · #2 (**permalink**) 12-26-08, 05:28 PM

Well, considering you didn't know why you bought, perhaps you should sell and take the 400% profit for the heck of it too then?

I utilize technical analysis to base most of my decisions. Looking at the chart it seems you made a great play,

TRBCQ.PK: Summary for TRIBUNE CO DEBS 29 - Yahoo! Finance

Might as well sell and walk away a happy camper, especially if you don't know where the stock is going to go from here.

Harold · #3 (**permalink**) 12-26-08, 06:53 PM

This is true. I am new to this and I saw that on Dec 8 they declared chapter 11. I know that is a restructure but did not know what that does to stock.

I watched it go down to .20 and watched it for a while. I know they owned a lot of news papers and tv channels and thought they may go back up some. I watched till the stock started to move again. I got in at .60 and it looks likes their stock is rated at around 35.00 but I did not know for sure or if what I'm looking at is correct. I've thought about waiting it out some more to see what it may continue to do.