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.
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.
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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.
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.
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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. 🙂
Comments Off on Looking to get back into GTE
GTE sold this morning for an after commission profit of 14.4%. There is good news on the stock so I’m not sure I can grab it for another turn or not, but I will certainly being looking to repeat this. 14% in under three weeks… not too bad.
This is what I’m doing in my account. I post for entertainment and educational purposes. Do your own research and due diligence.
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I traded GTE a few times in 2009 grabbing around 9% on one trade and 11% on the other – at nearly half the price it is now. Yesterday I just added 300 shares to my account at $4.99 and looking for the pop to $5.78, that’s almost a 16% move before commissions and if it happens fairly quickly, a much better use of cash than waiting for 5% returns on YHOO options.
This is my account and what I’m doing – if you follow me we might both lose money. 🙂 Remember, do your own research.
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