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Sold my position on PROF today. Made a whopping $11 net. Glad to be done with it though. Once the money clears I am going to add to my LMRMF position. LMRMF is a long term horizon graphene stock I am in right now and it gone done some from where I got my position so I am buying some more now and averaging down. RELAX it's only another $100.
PROF was a mine play that is owned by a guy one of my trader buddy knows personally. It was a P&D from the word go and I missed the run so I just got out today on a little pop. Glad I did.
Decided to redeploy some capital from my futures account to my stock trading account to buy some more long term positions. After reading that book over the weekend I am resolved to trading less and making more. Don't get me wrong I love the futures however as you know you can certainly get FUBAR in there and quickly if you are not down for it.
I get ES for 300 margin so I took out quite a bit of my capital to move to stocks. Hey you can always put more in however when it's gone IT'S GONE. I am only looking to do ES on a longer term basis now anyway so I don't really need that much in there to work with if I am only trading a 1 lot.
Did some other research over the weekend along with reading that book and am looking to maybe take a position in LEE. It is one that is owned by Berkshire and is in my price range to buy some right now. I figured if they just bought it and it is in my range I am going to get some and let it work. I looked up their 13f statement and that was one on there that I could get right now. I am looking for it at 2.75 0r 2.64 ish.
I am looking at some other stuff for longer term also and when I am done with my analysis I will post the tickers here. I hope to get LEE this week if the money can clear fast enough after I deposit it and PA gets to where I want to buy it at.. I would like to get it distributed as soon as possible. The market is looking strong so I want to be in there participating.
I am going to keep some money for 1 position so I can do 10-20% swing hits. I do that by taking a position that has pulled back off a new high back to a demand area and is ready to make the "next leg" and perhaps even another newer high usually takes 1-9 days. I just do the calculation for 10 or 20% and place the limit order to sell and wait to get paid. 0 drama, 0 stress, and 0 complications. Rinse and repeat as it were
Just got done with my scans and something interesting came up.
RIGL
Trading 10% off it's new low, no debt, over 10% insider owned, good institutional ownership, and the other metrics I look at are right on as well. Dunno this one could be something some time. Had a high of 11.44 last August. That's not that long ago. It's is also in my Hedge fund owned watch list. I will now look up and see who's 13f it is on and see how much they own of it. Those cats don't don't do anything small..LOL
These new Schloss metrics I made and am using seem to be bringing up some narley stuff. Cool! Makes all that time I spent researching and looking up the 13f info all the more worth it. It was like 100 hours or more of data mining so it is now starting to pay off. Don't know if I'll buy it but damn these metrics are working goooooooood!!!
Another way to screen is to go here Stocks at 52-Week lows - GuruFocus.com and check out what is on here then cross reference the data with the 13f filings for the hedge funds and see who bought what on this list. Then take your pick and see if you want to get into any of them.
Got some good fills this week. RIGL, MELA, BAA, and HH. HH filled and then dropped like a rock on earnings statement news. That was a drag for sure.
Also had a nice little trade on ES on a 60 minute TF on Friday for 5.75 points. Got filled on it and never looked at it until 330 ish. I think we'll see 1800 fairly quickly now.
