Monday, September 25, 2006
New Record High
The portfolio gained 1.1 percent today to a new record high thanks almost entirely to a single stock: SPPI. The stock rocketed up 45 percent today on word of positive results from Phase III trials of one of the drugs in its pipeline. I have 4000 shares of SPPI and I didn't sell a single share. I think the stock has $7 written all over it.
I also said goodbye to an old favorite today: TRT. I sold my remaining 1000 shares today. I think the stock still has great technical mojo, but frankly, upon further reflection, the quarter that they reported on Friday just wasn't as stupendous as traders seem to think it is. For one thing, almost half the profit was not from operations. And for another thing, the company didn't pay any tax during the quarter (and indeed earned a small tax benefit). Having left $7000 on the table by not selling all my ASCEF shares when they were trading above $10, I'm reluctant to make the same mistake again.
I also said goodbye to an old favorite today: TRT. I sold my remaining 1000 shares today. I think the stock still has great technical mojo, but frankly, upon further reflection, the quarter that they reported on Friday just wasn't as stupendous as traders seem to think it is. For one thing, almost half the profit was not from operations. And for another thing, the company didn't pay any tax during the quarter (and indeed earned a small tax benefit). Having left $7000 on the table by not selling all my ASCEF shares when they were trading above $10, I'm reluctant to make the same mistake again.
# posted by Stockcoach @ 4:25 PM 
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Hello!
I noticed you have Infosonics (IFON) in your portfolio, I been watching them for a while. Can you give your opinion on this stock.
Thanks andrey at stockforlife.blogspot.com
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I noticed you have Infosonics (IFON) in your portfolio, I been watching them for a while. Can you give your opinion on this stock.
Thanks andrey at stockforlife.blogspot.com
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