In the first or, hopefully, many stock blog posts, I am disclosing the first ever sale from one of my IRA accounts.  Back in August of 2000, I bought shares of Eli Lilly(symbol: LLY) after they had dropped off about 20% when they had lost a fight to keep prozac from being sold as a generic sooner than they had expected. The shares dropped from just over $100 to $80.  Everything I read during my research made it seem like this was a big blow, but that the company had a lot of new products in the pipeline and would be able to offset this loss with new drugs.

Sadly, 8 years later and the stock just hasn’t performed.  The new drugs have had set backs, or have not sold as well as hoped. I am selling at loss, even with reinvested dividends, but I think I can put the money into something must better.  I’ll be posting about that purchase soon.

Here is a chart.  The little black arrow shows the dip where I purchased the shares.