In investing, they don't all work out. General Cable Corp. (BGC), which I first wrote about on May 5, 2009, at a price of $34.59, has been stopped-out at at the sell/stop loss of $28.
The stock of General Cable, which develops, designs, manufactures, and distributes copper, aluminum, and fiber optic wire and cable products for the communications, energy, and electrical markets, has been retreating since it announced a Q4 production cut back in mid-2009.
The stock fell below the key, 50-day moving average in the fall 2009, and hasn't recovered. The Dow's recent sell-off amid sovereign debt jitters in Greece, Spain, and Portugal, pushed the stock down further, below $28, triggering the sell/stop loss.
And given the stock's bear-hug technical pattern, I don't expect any upward movement any time soon.
Disclosure: Lazzaro has no positions in stocks, but does own shares in two Pimco Bond Funds: PHDAX and PYMAX.
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