Having already banked CMCI once, I’m back in for more. As you know, Friday afternoon I added 10k shares at $1.30 in my main account and 5k shares at $1.30 in my ‘Challenge’ account.
This is my only position to start the week and for all the new subscribers, I rarely carry more than 3-5 trades at a time. Yes, I am a scalper who uses guerrilla warfare tactics to pick off profits one trade at a time. That doesn’t mean I won’t let a trade run through swing and short term trading, but generally I don’t like to stay in these stocks long e.g. ESYL, LEXG, ALZM and DOGO!
Challenge account balance: $8,029 up 13% in 2011
Main account balance: $236,376 up 14% in 2011
Earlier today I read through the annual report on CMCI and I’d suggest you do the same. Here is a link to their 10-K annual report
Below I’ve pulled a piece from their most recent 8-K – click here to read it
“As a result of our reverse acquisition of Value Development Holdings Ltd., we have assumed the business and operations of Zhongxian Information with our principle activities engaged in the breeding of cows and the sale of milk, calves and organic fertilizer in Harbin of the Heilongjiang Province of the Peoples Republic of China”
“Operating revenue for the year ended June 30, 2010 was $14,357,334, representing a 22.2% increase from the year ended June 30, 2009. Our net income for the year ended June 30, 2010 was $4,562,835, representing a 23.8% increase from $3,685,034 for the year ended June 30, 2009.”
I continue to think something big is brewing here or I wouldn’t have bought back in after my first trade where I flipped it from bid to ask for a big gain. It’s hard to say where it will go, everything depends on whether or not it picks up traction.
After getting flushed on ESYL I’ll be sure to keep a close eye on this one and if all goes well I’d be happy with $1.60 – $2.00. Keep in mind that doesn’t mean I’m sticking around for $2.00, it simply means that when $1.60 hits I’ll be looking to take some profits, if not all. My hope is that it trades 10% a day all week but that’s probably wishful thinking.
Additionally, this setup is very much like the charts PrePromotion Stocks picks up regularly so that could add a lot of buyers if it hits his list. If that does happen then I might consider sticking around longer based on his research. That’s just speculation at this point since to my knowledge he hasn’t discussed anything yet, but if I hear anything I’ll let you know.