KIWB did not work out as I’d hoped with a gap and run. At one point I was up over $2,500 on this one and it’s a good example of the lesson I preach repeatedly to take profits when profits are available. Instead I walked away with just over $100 in profits for my challenge account and about $700 in losses. I was up 10% on Friday and over 20% at times, greed did me in here and I won’t let it happen again. Finally, price action like this is the very reason I shy away from stocks under $.25, they just move up and down too fast for me to enjoy my morning coffee.
GPL moved up with silver as expected. Friday’s entry at $3.30 closed up 5% at $3.49. Holding all 7.5k shares and I’d like to see $3.60 or so for my 10% turn.
Still accumulating GSTPE from last week, shares are hard to come by on the bid at $.021 but I’m stubborn and have no immediate plans to move unless the trading picks up.
My Sunday Swing is LOCM, which I grabbed 5k of Friday at $3.61. The CEO just bought 75,000 shares at $3.58 which is well over a quarter million worth of stock…to me that doesn’t appear to be a smoke screen.
Still holding ANIK and actually added to my position today as it started to climb. Picked up an additional 1k shares at $7.54 bringing my new average to $8.08. With any luck it’ll continue to climb tomorrow and start working into that gap. Goal remains the same, 10% so roughly $8.90 gets me out of this one.