Category: Daily Recap & Strategy
We sold the last of our shares in $SMSI today for a $520 profit. We have once again returned to $AVL due to its’ established downtrend break. A new position in $NTWK was taken today for similar reasons. They have greatly improved business prospects and the selling occurring end of 2011 has apparently been exhausted.
We sold our position in $MITK for a $706 profit. Shares of this security continued another 8% higher throughout the day but, we wished to move money to another opportunity. Specifically, we put on a quick day-trade in $AVL for a profit of $400. A new position was taken in the Chinese internet company, ChinaNet Online Holdings, Inc. ($CNET)based on the current demand for oversold names in the sector that continue to produce healthy net-incomes.
We sold our position in $WEST today on the hypothesized oversold bounce spike that lead us to buy yesterday. The stock held that level well but, the dynamics are totally different now. We took a position once again in $GSX at 20c due to the stability it’s shown here coupled with the large and sustained move made in $DEJ. $GSX and $DEJ have both recently put out exploration updates which leads us to believe $GSX has alot of potential upside.
We sold our position in $PRGN for a loss as the support and interest just wasn’t there (ie, no follow through from yesterday’s news). Put on a quick trade in $HEAT for $280 gain based on oversold conditions coupled with a push in sub 50c stocks coming out of several chat rooms. Our new position in $WEST today is based on a resurgence in the share price of a wide variety of solar names over the last several sessions.