Stockcoach's Corner

Despite a big move in OLGR yesterday on news that the company was being bought out, my portfolio managed to eke out only 0.1 percent. Today was better, however, with the portfolio gaining 1.0 percent.

I sold half my shares in obesity drug maker ARNA today. I am not sure why the stock was up. Perhaps it was due to all the stories in the news today about the latest obesity study showing that Americans are getting more ..um.. voluptuous (fat chance, you say?). At any rate, I was getting sick of watching the stock bop up and down and decided to lock in some profits while I still had them.

I also added to my EWEB position yesterday. I know all the rule books say you shouldn't double down on a losing position (or in my case, quadruple down). But then again, I don't really care much for rule books. EWEB is trading well below its cash value. The company didn't renew their contract with Dutton Associates and didn't even bother to release a press release for last quarter's earnings. I figure that management has thrown in the towel and are looking to take the company private. There are enough large minority shareholders in the stock that I think they wouldn't dare offer anything below $2.50 per share. Obviously I could be wrong, and I certainly have been wrong on the stock so far, but I still think there is more upside than downside here.