Bulls are doing well today. Yesterday morning bearish mood definitely was not supported by traders. We probably will finish green again and again better than S&P500, but if yesterday it was due to SDS compensation, today we already had very nice +100% gain from FTBK. We initiated it a couple of weeks ago for $0.77/share. I had a standard 1/2 position limit sell order for $1.54 (100% gain) but after strong action yesterday I increased the target to $1.85. FTBK not even achieved but well exceeded our goal. We still hold 1/2 of the initial position (now just 0.25% of portfolio) and will watch it for healthy pull back. If not, hopefully other financial plays (ADVNB, FBC) will join the party.
Reduced position in TXCC was right at its' near term resistance and we needed some cash to free the stage for newcomers. So, we reduced TXCC holding by 1/2 with a nice 42% profit.
We also got into some new plays. Buy limit order for BEST for $1.22 was a success. We grabbed whatever was available and this discounted price didn't stay long. We are up 18% just after 1.5 hour of trading. BEST is a healthy strong play. Volume is nicely up. Fundamentals look sound. If it is a trend it's just started, so let's see how it works out.
Another good looking chart is MBRX. Biotech stock that is awaiting for some news. Hopefully good news. They have some cash, huge institutional ownership, decent portfolio attractive for big bio guys. Looks like a good recipe for a good run up in near term.
No comments:
Post a Comment