Saturday, June 04, 2005
Weekly Summary
My portfolio gained $3,794 (0.9 percent) for week, outperforming the S&P 500 and NASDAQ by about 1 percent. Three new position to report: I bought 2300 shares of OCCF. Yeah, I know, it's in the fiber optic cable industry, not exactly the most popular industry to be in these days (my, how times have changed). But the company is profitable, growing, and very undervalued. It's an $8 stock with a $4 price tag.
I also started two short positions. At the beginning of the year, I meant to increase my short positions, but as it turned out, I ended covering the two positions that I had (TZOO and MSO). Well, here are two new ones: FCS and HANS. FCS guided down for the quarter a few days ago. The stock didn't go down very much; I think it's vulnerable for a further pull back over the next few weeks. HANS is a rocket due for a fall back to earth. Greenberg slammed it on Thursday's Mad Money. I think that this could be the catalyst that this stock needs to give back a few points. I have a slight profit on both positions and plan to keep them on a very short leash. If it looks like a short squeeze is developing, I will bail.
I also started two short positions. At the beginning of the year, I meant to increase my short positions, but as it turned out, I ended covering the two positions that I had (TZOO and MSO). Well, here are two new ones: FCS and HANS. FCS guided down for the quarter a few days ago. The stock didn't go down very much; I think it's vulnerable for a further pull back over the next few weeks. HANS is a rocket due for a fall back to earth. Greenberg slammed it on Thursday's Mad Money. I think that this could be the catalyst that this stock needs to give back a few points. I have a slight profit on both positions and plan to keep them on a very short leash. If it looks like a short squeeze is developing, I will bail.
# posted by Stockcoach @ 12:42 AM 
