Patrick's Rants


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6/12/2014

Closed GTE

Filed under: Money,Stocks — site admin @ 3:07 pm

Today GTE hit 7.60 and my order that was in to sell was hit. So purchased just over a month ago and sold today. The simple return on this transaction is 5.89% annualized it’s just over 75%. I love it when a plan comes together 🙂
Time to take a look to see if I should be in for another roll.
edit
After looking over the chart and checking my screener I placed another order to buy at $6.89. GTE hit this three times in May and I believe that it could roll down again. I still like the frequency that it has hit 7.60 vs the possibly higher exit price of 7.75 so the sell price will be in at 7.60 if I get filled.


This is my account, I’m posting for entertainment and educational purposes only. There are no stock tips or recommendations here. Do your own thing.

5/7/2014

New Position in GTE

Filed under: Money,Stocks — site admin @ 6:51 am

I had an order in to buy GTE at $7.04 and got impatient. Had I just left it alone, I would be in 200 shares of GTE. As it was I raised my purchase price to $7.08 which was executed yesterday. It’s down a little today (and I might have even gotten it lower). My target sell price is $7.60.
edit
The price dipped to $6.75 today. Looking at the outside boundaries of this range, if I had gotten in at $6.75 I would look to close the position at $7.75 for almost 15%. I still like my range of around 7% return, but wouldn’t turn down double the return. I’m in where I’m in.


This is what I’m doing, do your own thing. All posts are for educational and entertainment purposes only.

5/5/2014

Looking to get back into GTE

Filed under: Money,Stocks — site admin @ 9:02 pm

After freeing up some capital and running my screeners at TDAmeritrade, I’m looking to jump back into GTE. I’m looking for the price to move in the range of 7.04 – 7.60 where it’s been recently. I made a few quick turns in 2009 and 2013. Checking back on my spreadsheet, I realize I made an error in my original post. My first trade was 19.15%, not around 9% as I first wrote. That was about a three week turn. The second trade netted 11.4% in 12 days and the last trade returned 14.4% in about three weeks. The annualized returns are just ridiculous… I should have just kept trading GTE instead of venturing over to Africa with HMY.


This is what I do, posted for entertainment and educational purposes only. You need to consult your own experts and make up your own mind. You could end up holding onto a dog gold miner like I did. 🙂

Done – EGY Closeout

Filed under: Money,Stocks — site admin @ 8:44 pm

EGY finally hit 8.99 on 04/21/2014. Purchase price was 7.55 on 3/22/2013. Total purchase amount was $1142.49 total sale was $1338.48. Simple ROI 17.15% and annual return works out to 15.75%.
So was the purchase worth it? An annual return of almost 16% is not bad but my cash was tied up for a year. There might have been some opportunity costs along the way. This does show that even though I could have cut my losses, believing in the chart and the fundamentals of the company does work out. Of course the results are different from my experience with Advanced Battery (ABAT) but with ABAT, there were indications that some very shady accounting was going on over there in China. I think I wanted to believe that gel lithium ion batteries were a much bigger part of the economy than they really are.


Do your own research, no investment recommendations here, just entertainment and educational value – one hopes

3/27/2014

Almost There

Filed under: Money,Stocks — site admin @ 7:37 am

After a year of sitting on EGY (first bought in 3/2013, then reviewed and lamented) it seems as though I may have been accurate about my price prediction – at least it’s now on its way to $8.99 and above the original purchase price. I would have preferred to be right faster, but this is long term money. 2013 ended up being a slower quieter year when it comes to this account, maybe I’ll be back in the swing in 2014. After all, with around $900 to play with (assuming the price climbs to my projected goal) it will be time to start looking at new investment/trading positions again.

Anyone get in when I did and stick it out?


Remember, I’m not your adviser, I don’t sell stocks and I post my trades for entertainment and educational purposes only.

9/4/2013

Portfolio Review

Filed under: Money,Stocks — site admin @ 7:12 am

My active account has taken quite the beating this year, pretty well wiping out all of my gains since I opened it. It is a dinky little account, though so no harm no foul, it could just be worth a bit lot more. The dividend stocks that I hold continue to pay out their dividends and I patiently wait for recovery of HMY and EGY

On a much more positive note, my wife’s passively(semi-actively?) managed account is doing just fine. We look at the Prime Interest Rate to decide which ETF or Mutual Fund is the “right” one for right now, move the primary investment as the Fed makes adjustments that move the Prime Rate, dollar cost average into the funds as deposits are made into the account. I may add options – covered calls and cash secured puts – but no single position has round lots so there will have to be some rebalancing or continued growth of holdings before I can add that extra boost to the growth of her account.

In the overall scheme of things, my active account is only a small part of my expected total retirement funds so for it to be beat up down and sideways – while a bit ego bruising – is not currently a major concern. I do, however, have to prove to myself that I’m capable of taking the existing nest egg and making it grow over time

4/15/2013

EGY Today

Filed under: Money,Stocks — site admin @ 9:51 pm

If you had bought EGY when I had and hung onto it like I did you might asking yourself, “why?” right about now. The answer should be, because it’s going to go up to the price that I saw in the chart. It might be a bit of a wait though, since profits came in really low and the PE shot up to over 1000… I like lower than 20, so something has to change here.

This could be a stock that sits in the portfolio that I sell calls against. The October 7.50 calls (just below break-even) are selling for $0.60. This is not what I bought the stock for, but one reason to look at stocks that have the three “income” components: Dividends, Options, and the biggest component, Capital Gains. EGY doesn’t currently pay dividends, so we have to make our money on the appreciation and the options. Option pricing is pretty darned good for a stock with this high of a PE (it could be they are all winding down and all the purchases are from speculators who sold them when they were higher, but someone is selling them) and selling for $0.60 increases the profit of just closing out. Selling these options, I would be hoping to be called out – or not. If I’m not, sell them again. If I am I take 2/3 of the position size out of my account. Part of the reason I haven’t sold the calls is I really want to sell all 150 shares and selling calls that tie up just 100 shares increases transaction costs. So I wait a little and ponder the options.


This is what I’m doing in my account and not a recommendation that you take the same financial beating that I do

4/3/2013

EGY

Filed under: Money,Stocks — site admin @ 6:55 am

On 3/22/13, I bought 150 shares of EGY at 7.55 looking for a move to 9.00.


This is what I’m doing and is for educational and entertainment purposes only and is not a recommendation or offer to sell any security listed.

3/14/2013

All That Glitters

Filed under: Money,Stocks — site admin @ 6:58 am

HMY has taken a bit of a beating as of late, most recently from a George Kesarios in his article, Mining Stocks to Avoid over on Seeking Alpha. It’s not usually a good thing when your holdings get mentioned over there. At least not when my holdings get mentioned over there since they do typically upset the apple (or gold, or battery) cart when they start writing. I can’t say that I can take issue with George’s assessment. Heck, look at the long term chart and you will see a decline in price over the past several years. But what I still see fundamentally is a company showing positive earnings per share and real cash in the form of dividends (I’m not a huge dividend investor, but it’s nice to be “paid to wait”) It has a price to earnings ratio of 10 and that usually tells me that it’s not overpriced – I try to stick with a P/E below 20.

Kesarios states that he believes that Harmony Gold, along with others, failed to cash in on the huge run up in gold pricing (and look at their long term chart – he’s kinda right) and gold is going to completely collapse soon. Whether the gold hoarders or doomsday preppers are done collecting all the gold they ever want is hard to say. Look around. There are so many places here that are buying gold that we could be at the top of the bubble – Warren Buffet says be fearful when others are greedy – or we could be at the start of another run.

I’m holding 300 shares of HMY. I’m expecting the price to go to $7.20 as I posted before, but if it doesn’t happen within the next two to three months it will be time to start looking at selling the calls. Enough calls over enough time recoups the investment and produces a little bit of cash flow, but it also means I’m holding these for a year. I don’t see a total melt down of this stock like happened with ABAT, but one can clearly see an article on Seeking Alpha gets read by a lot of people and prices are definitely affected when they beat it with their keyboards.


I have HMY in my account. Yes I will be holding it until I get the $7.20 price, decide that I can’t wait any more and adjust my price, or collect call premiums for the next year or so. Don’t copy me, you could do just as poorly. This is what I’m doing in my own account. This is for entertainment and educational purposes only. Do your own research and due diligence.

3/8/2013

How’s That For Journalism?

Filed under: Money,Stocks — site admin @ 7:14 pm

I missed posting on 2/15 that I closed by position in JRN. As sometimes happens the chart fooled me into thinking the price wasn’t getting back to $5.70 and I picked a lower resistance line of $5.67. I did sell at $5.67 minus commissions for a 5% profit on the trade. The problem, if you want to call it that, is I could have had the extra $.03 if I had just been a little patient. And if I had been really smart I could have taken more off the table since the stock has spiked to $6.50 in the last few days after a positive earnings release. I’ve written it before, don’t chase the price and be patient. Since this 5% is in just over 30 days, it’s an annualized 63%. Not bad, but I chased the price down and was not patient enough for the extra $0.03. Even worse is that I could have been paid the extra few pennies the same day that I sold for $5.67, but I adjusted my price based upon the February 1 high of $5.67. I was not totally “wrong” but I didn’t make my initial calculated profit.


This is what I’m doing in my account. All examples and trades are posted for educational and entertainment purposes only and is not a recommendation for any security mentioned. In other words, do your own research and be responsible for yourself.

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