I decided to adjust my roll range down $0.01 since the high on 2/17/12 was $3.39. I would have had another round trip trade @ $.31/sh if I had done that – but no matter. I sold CMRG today for just over 6%. Shares were bought on 2/10 so that’s a pretty good rate of return. I have a new buy/contingent sell order in for 3.08 to 3.39. Let’s roll! I’m okay with cranking out 6-7% monthly returns.
Rolling CMRG. Do your own research
Closed 200 shares of CMRG at 3.40. It looks like the new range is 3.10 – 3.40, so the buy order is in for 200 @ 3.10. I had actually bought 200 shares @ 3.97 (11/9/11) and 100 @ 3.20 and with commissions my average share price is 3.78. This is a net loss that in theory lets me back in at the lower range. It was not my original strategy to lose money on this trade, but I’m still in 100 shares and I’m looking at this apparent new range to roll a few times 3.10 – 3.40 to recover some of this trade down.
Disclaimer: I’m trading CMRG.
I closed my final 100 shares of CMRG yesterday at 4.50. For these specific shares, bought 11/30/2011 at 3.20 it’s a 33% profit for just under a year holding. Total CMRG returns are at 2.34% due to not having the free cash to continue trading the predicted trading range. CMRG did hit both sides of that range twice more since which would have helped my overall trading profits, but I’m good with what I received.
I’m now out of CMRG. This is just what I’m doing, what you do in your account is your own business.
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I’m primarily just waiting for things to happen with my stocks. No major moves, no exciting pops. I did decide to add a little (7% annual) dividend income to my account and bought 2 shares of JNK for the few cents worth of dividends per month (JNK qualifies for commission free trades in my account so 2 shares or 2000 shares makes no difference in trading costs). I’m also hanging on to my shares of VG, YHOO, ANH, and CMRG that I’m holding. I’m selling covered calls on YHOO so I have to wait for the price to come down on the options, the shares to close under $15 at expiration or to be called out. With YHOO, I’m inclined to be called out and then start selling the puts and use the unused cash for my other stocks.
VG has really been slammed, but no real negative stories on it, still has positive numbers and really low P/E. It hasn’t done what I want so I might have to rethink whether to buy it again if and when my sale price gets hit. In the meantime, I’m just holding and waiting. I might also review the calls when the price gets back above $2.40 if I don’t happen to just close the trade.
My current holdings of ANH are too low to trade. I only have 25 shares and commissions would eat any profit so I’m just taking in the quarterly dividends currently around 12% annually. The 25 shares was done on purpose, I bought 225 shares on the last turn and got called out of the covered calls I was selling on 200 shares.
This is what I’m doing in my own account and is for illustrative and educational purposes only. Do your own research.
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ABAT was delisted as of 11/30/2011. The price promptly plunged from just under $1.00 to less than $.40 and I closed out the last of my holdings at $.41 for a significant loss and picked up another 100 shares of CMRG for $3.20 looking to get out at $4.20. I will be reevaluating how I manage downside risk to see if I need to make any changes in this part of my portfolio management.
I owned shares of ABAT until 11/30, then I ran for the door. I’m not recommending buying or selling ABAT
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