It was a busy and a very efficient day. We outperformed S&P with flying colors. -0.3% S&P vs. +0.9% PennyStocks. SDS didn’t help us much today. Most good news came from multiple holdings. About 75% of our holdings were green and among those about 20 holdings were up more than 10%.
ENCO, DSCO, UPI, CPRX, AEHR led the race. We realized gain from UPI, AEHR, CPRX and others. Actually AEHR was a huge spike just after hours that knocked down our almost 100% sell limit order for $1.59! 2/3 of our AEHR position was taken by some crazy afterhours buyer. I regretted that sold 2/3 instead of usual ½, but later drop back to $1.2 tells me it was a good deal :) Same with CPRX . It was sold first 5 minutes after market close. I was thinking of getting rid of CPRX anyway, so it was a nice rebalancing trade.
Actually I think, this after market close craziness is because of end of the month/ end of the quarter thing, when many investors and fund managers rebalance portfolios. Usually it is a big cap manipulation thing, but sometimes it touches penny stocks also.
We had a very good cleaning-up and rebalancing day. With decent profit I liquidated: FORD (+11%), CNOA (+15%), BEST (+12.5%) and RGCI (+20%). Reason is pretty much the same: Low float, OTCBB, fundamentals issues or chart imperfections. Free cash from these “dogs” we moved into “cows” or “stars” sectors (that’s how BCG consultants would probably narrate this story LOL).
We added, ONSM, LTRX, EGT and 3 totally new plays in our portfolio: BBI, TGX, ZBB. All very different, all very promising. BBI is well known to penny players. Honestly I missed this one when it was around $0.70. I just don’t use Blockbuster (I am a Netflix customer) and think that for a simple “commodity” service like this, there is no enough space to accommodate all those retailers and vendors. My bias cost me unrealized profit, so today I decided to give BBI a chance, at least a chance to its’ stock :) TGX – looks undervalued med device company. I have it on my screen for a long time. Recent green volume spike finally convinced me to add it to our portfolio. ZBB speculative short term play – volume screen last two days and intraday green volume spikes – these may suggest a start of a good rally for ZBB, not very well-known symbol. Even Covestor didn’t recognize ZBB and I am not sure if it sent you a trade alert. By the way, another trade today, (sell 1/3 of KOOL) was also lost by Covestor. Our trade Log was updated around noon I think for KOOL trade, but covestor sent out its alert 3 hours later or so.
Once again, let me remind you, if you want to get alerts within few minutes or seconds after the trade execution in our portfolio, please sign up for RSS trade alerts from our Trade LOG blog, through RSS or just visiting the Trade Log Blog here: http://pennystocks100trades.blogspot.com/
Well, congrats with a good trading day. Hope we’ll have continuation tomorrow!
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