Investment experiment that you should know about
Made a few trades last week that both generated some cash and put me back in the black for at least one of my positions. I still have a ways to go however.
On the 14th, I bought 500 shares of Gasco (GSX) @ 3.60. While I was already too concentrated in this stock I couldn’t resist. It paid off as the next day I sold 500 shares at $4.05 and on the 16th sold another 500 shares at $4.37 per share. This makes me just about break-even on GSX overall with a small paper profit on the Puts I sold a while ago. I expect Natural Gas will continue to rise from here. I am a buyer of this stock under $4 and will likely sell another 500 shares if it goes much above $4.50 to get back to my core position.
TD Ameritrade (AMTD) has made a bit of a comeback, closing at $15.36 on Friday. This is a bit higher than the $14.60 I got when I sold half my position but I’m not kicking myself over it. The Puts I shorted are now out of the money so that will make up for some of the losses but Ameritrade continues to be my biggest losing position, even taking the dividend into account.
Sara Lee (SLE) continues to hold up well.
Shanda (SNDA), not so much though it is up from it’s lows. I believe the stock may be getting ready for another run. Might use some of my new-found cash to pick up another 100-200 shares to drive my average cost down.
I am still looking to establish a long-term position in Yahoo (YHOO) but am going to wait until later this month to see if I will need to take the 200 shares of Microsoft (MSFT) I shorted Puts on.
I am loving this down market, there are so many bargains out there it should be easy money later in the summer.
You can see my results at OpenPortfolios. The Ameritrade puts are not tracking correctly so the portfolio is a little bit off but it’s still close. As you can see, I am still down overall but am making forward progress.