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8/22 Portfolio Update – Stopped Out ROX & Looking For Potential Re-Entry

August 22, 2017 By Matt Thomas Leave a Comment


Review of Open and Closed Positions:

Link to Last Week’s Watch List
Link to All Watch Lists

Open Positions

LQMT (Liquidmetal Technologies Inc): Still holding 1707 shares at $.28. I think this stock has massive potential and limited downside at its current level. One of the biggest risks in trading lower-priced, small cap stocks like this is a potential offering, but with over $50 million in cash, the threat of that is low at this time. I only see upside for the price of this stock on rumors/speculation or possibly even legitimate news with a big-name company like Apple or Tesla. The current CEO has a solid track record and owns another billion dollar company with synergies in the “amorphous alloys” space. I’ll be looking to add on dips between $.25-.30.

LQMT Stock

Closed Positions

ROX (Castle Brands Inc): I stopped out of my position today for -15% as it broke below support at $1.50. Tough loss but have to respect my stop zone. I still see a good amount of upside potential in this one, but who knows how much it wants to “wash out” first. There’s a couple lessons to be learned in this trade: 1) never be “married” to a position, and 2) don’t over-extend yourself in any one position. Fundamentally, I don’t see anything that has changed with the company. Investors just don’t seem to be happy with their most recent earnings announcement. Revenues, however, have been growing at a record pace. I’ll be monitoring the 500 MA for a potential re-entry. If buyers show up in the $1.20-1.30 range, I’ll take a position in this once again.

ROX Stock

New Stocks to Watch

IMMU (Immunomedics, Inc.): This stock has been on a nice uptrend this year and is currently trading near its 52-week high. I like this both on a pullback to the $8.50-9.00 level or  a strong break of $9.50. They’ll be releasing phase 2 interim data on their urothelial cancer drug at the European Society of Medical Oncology (ESMO) conference in early September. That’s a catalyst to watch for a potential run-up into the event.

IMMU Stock

LXU (LSB Industries, Inc.): Classic oversold chart pattern here. Poor financial results reported at the end of July has knocked this one down roughly 40%. Now a bottom appears to be forming around $6.20. This could be a short squeeze candidate moving into the weekend with around 30% short float. If momentum starts to turn to the upside, shorts will be looking to cover their positions. I’ll be monitoring price action and volume for a potential entry.

LXU Stock

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Filed Under: Matt Thomas Watch List

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