Sold JBL. Consolidating.

On Friday the 4th of April I sold 120.471 shares of Jabil Circuit, Inc. (NYSE:JBL).

It was having a good day, and it seemed like a good time to sell.  I was right.  I sold for $18.75 a share and it hasn't seen that level since.

And then I turned around and purchased more shares in E.W. Scripps Company (NYSE:SSP).  That was a mistake.

It wasn't a mistake to buy more shares in Scripps, I think, but in hindsight it was a mistake to buy them when I did.  I purchased 120 shares for $17.12 each.  Had I waited until yesterday then I could have purchased Scripps at $16 a share.  I could have purchased 8 additional shares at that price.

I purchased 135 shares of Scripps back in January for $18.12 each.  I planned to sell for $21.50 or more, but I didn't plan to sell until election season in November.  That's when Scripps will be making some money from political ads.

For this reason I did not already have sell order in place when Scripps inexplicably shot over $22 a share on the 4th of March.  Had I sold I would have made over 20% for an investment of roughly 1.5 months.

Scripps has been declining, and so I decided to double down.  I need to work on my timing, though.

My sell order is in.  I'm hoping to sell at $22.37 within seven months.  I figure the stock will shoot up sometime between now and election season.  The average price I paid for my shares is $17.65, so I stand to make over 25%.

I'll let you know how it goes.