More Profit Taking
Sold for Profit: FPP (sold 75% of my position for a +148.73% return), GEOI (+119%), PDO (sold the remainder of my original position for a 214% return. sold my last add on position for a +61.6% return)
Sold for Loss:
Holding: BEXP (+50.11%), CBRX (+18.75%), CDY (-3.21%), CLR (+39.42%), CPST (+18.97%), CXG (+1.65%), EGY (+11.25%), EPM (+41.48%), GSX (+28.70%), IVAN (+10.60%), LRT (+9.56%), MEA (+20.22%), MPET (+36.50%), MRB (+17.83%), RAME (+11.81%), ROYL (+31.76%), SCU (+15.33%), TGC (+31.50%), WHT (+57.87%), XIDE (+43.58%), ZEUS (+20.73%)
Kicking Myself for Missing: MXC (another big runner like PDO. Although I missed it, I did mention that I was watching it along with PDO. Instead of buying both, I decided to just go with PDO. Oh well.)
I will post more of my sells later on tonight/morning. I'm going to be a bit busy the next few days but I will try to post all the info by the end of the week. There are other strong holdings that I want to mention as well such as GTE, NOG, SUTR, TACT and many more. Most of these are profitable. Still, there are a few that have not worked out well. Despite this, for the most part, most of my recent buys and recommendations have been doing quite well.
Note: Notice that most of my current winners are part of the oil/gas industry. The rising oil prices have helped create a unique situation which has resulted in above average returns. The metals group has also been a high flier. This is evident in the gains attained by MEA, MRB, and ZEUS.
posted by Nick M. @ 5:16 PM
6 Comments:
HOLY COW, Nick! You are making us all look like chumps. Would you mind sharing your bottom line for the year?
Have you thought about providing some tutoring for traders interested in learning some of your techniques?
Scott,
I haven't posted everything just yet. The stocks that I listed were the majority of my top performers. There are quite a few losers as well. I try to cut my losses on the laggards as quickly as possible (like a round 8%). But when I use a mental stop and get lazy (such as GENC), the losses can mount up (-20%). Still, overall, my strategy has helped me hold onto my winners for longer and cutting my laggards quicker, resulting in a positive return. The year is still not over so there is much more to go. All I can say is, I am beating the market indices without a problem. Again, so far, so good. Anything can happen. As far as strategy is concerned, I try to not reveal too much. As much as I want to help, this is also my bread and butter and my edge. I have been practicing and perfecting my chart reading skills from day one. Ideas and techniques cease to exist once everyone knows about them. That is why I'd rather stay tight lipped about my strategy. The one thing that I can say, is that I'll never have a problem sharing market ideas and stock picks. I usually post the stocks that I am (planning on) buying for myself and my portfolio as well as when I add to my positions (pyramid) before the market open. This gives people time to get into positions before I even have a chance.
flippant comment ---- one strategy is to buy stocks that go up. if they do not go up, i should not have bought them, so i sell. for shorts, sell short stocks that are going down, if they do not continue to go down, then you should not have shorted them, so i cover.
serious comment - nick, i have been following your picks for about 2 weeks. i have made 7% over that time ($200) on a 3000$ portfolio. so thanks for your picks. as i gain a comfort level doing this, i will risk more money.
i am getting really concerned about the parabolic spikes in some small oils..... so i am out.
you are not (yet) posting (m)any short sales. but those will be my next trades.
once again thanks......
Rol Lew,
Yes, I haven't really concentrated on any shorts as of late. I am not a big fan of short selling and only do it when there aren't any stocks to go long. There have been plenty of stocks to go long the past few weeks so there was little need for any shorts. The tide may be turning. If it does and the markets start to tank again, then I will post some shorts.
Hi,
Great blog. I have linked to your blog. Please Reciprocate.
http://www.stockinvest.in
Thank you
sandy k
Hi Sandy,
Nice blog as well. Thanks for checking mine and for the link. I will add yours to my blog roll as well.
-Nick
Post a Comment
Subscribe to Post Comments [Atom]
<< Home