Monday, March 07, 2005


To the MAX

Lots of action in my portfolio today: I sold ACY and ASIA, and used the proceeds to buy 1000 shares of PSRC and 5000 shares of MAX. MAX represents my belated effort to get a piece of the huge moves seen in some energy stocks. I did a screen of the sector, and MAX, with revenues in excess of $300 million and a market cap of only $11 million, was the only stock to meet my rather strict value criteria for inclusion in my portfolio. Another stock in the same area, FUEL, was up nicely today. I am hoping that the lemmings notice MAX over the next few days so that I can profit from any upside move. All in all it was a good trading day, as my portfolio elbowed past the 400K mark.

Hmmm.. yeah, I got out of ASIA as well at $4.90. However, I made the mistake when riding it up of shorting it at $4.60. So losing a bit. Now, I am hoping it will drop more.

Been playing with energy as well. It's been doing so well that I feel people ought to be taking profits right about now. So I shorted energy again today. Hopefully I wont lose $400 in a day like last time.

I set a bunch of SELL SHORT orders yesterday using limit orders. All on steel stocks like AKS, X, NUE. Unfortunately, I set my limit price too high so couldnt catch the sweep of drops across steel. I did latch onto AKS when it was down a bit over 7.4% and rode it down a bit before covering.

TIBX totally bombed today. I was up over $200 a few days ago and it's gone. Oh well.. I am sure it'll come back up.

Today, I bought NGPS.. sort of a mistake actually. I had a BUY order back from a few days ago which I must have set to GTC and it suddenly bought it when it dropped. Hmmm.. they are announcing earnings in a few days. Dont know how it is going to do. It's been dropping like a stone the past few months. So I hope I got in at the right time. I am not losing much yet but going to be watching it...

Sold my XEC today. Bought it a week or 2 ago. Maybe it was a good move because it went down quite a bit in later afternoon.

PFE really sucked today. It should go up soon. hopefully.

Bought a bunch of NEXM today because it dropped really low today. This one is more of a gamble just to see what happens.

Man.. almost got burned today shorting DVN. I just thought it was too high yesterday. So shorted it. Covered today this morning on a dip. Glad I did because might get burned. I'll check it and see if there is another dip in later afternoon. Interesting to see if I made the right choice.

Also bought FRO when it dropped like a rock this morning. Hmm.. kind of a crazy drop. It is going back up now. Heard the rates were going to be going back up on tankers. So I just grabbed as much as I felt I could risk. Which is not too much, not too little.

Oh godamn it.. if only I waited on DVN. Could have made hundreds more.. crap.. wrong bone-headed move covering it too quick.

Scott - Hindsight is 20/20.. I would sent a lot less time (actually, no time at all) looking at what COULD have been.

This game is all about what WILL be.
sent ~ spend
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