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stockmktdouble (< 20)

STOCKMARKETDOUBLE DIARY JULY 2, 2013

Recs

1

July 03, 2013 – Comments (2) | RELATED TICKERS: SUNE , UNXL , RDN

Yesterday I missed the daily entry. It was the first time I had missed entry since I started this journey.  Anyway, my syle of investing is like watching paint dry. But hey it doesnt have to be exciting to be making money. As I have mentioned, I do this every trading day on Motley Caps to record my performance-because once you post here, you cant edit it, so once it published, there is no going back. So its a good way to accurately record performance. Anyway, with that said, the position  I hold SUNE was down almost 3% today and considering I am short, thats a good thing.

The whole purrpose of this exercise is to see if I can trade my way to a double in the market in less than one year. See the resilts below.

 

 Update for Tuesday, July 2, 2013:


Current position-short 1622 shares of SUNE at $8.45

Closed Trades:
5/17-short 942 shares of RDN at $13.69
6/17-covered position on RDN at $12.92 (6% gain)

4/18-shorted 262 shares of UNXL at $38.10
5/17-covered at $29.44 (29% gain)

Start Date: 4/18/13
Starting Balance: $10k
Current Balance: $13,987.00
Return: 40%
Annualized Return:192%

 

2 Comments – Post Your Own

#1) On July 03, 2013 at 1:50 AM, jiltin (28.11) wrote:

Great, I watch you daily. what prompts you to short SUNE?

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#2) On July 04, 2013 at 3:37 PM, stockmktdouble (< 20) wrote:

Thanks for following. Hope you are having a nice 4rth. I shorted SUNE for 2 reasons. The stock had run up from $1.70 to $8.45 (price I shorted at) in less than one year, an increase of 497%. 

I screen for stocks like that and then, in this case, I looked at their projected earnings. Using these measures, SUNE was priced more than 2x its value. To me, the price was not sustainable.  Anyway, thats how I arrived at my conclusion. The whole exercise is fun. I take a small % of my account and see if i can double it by continuosly re-investing whatever the proceeds are.   

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