Review of Open and Closed Positions:
Link to Previous Watch List
Link to All Watch Lists
Open Positions
ROX (Castle Brands, Inc.): Starting to build a position in ROX yet again above $1.20 support. Currently holding shares at an average cost of $1.34. Pretty much the same thesis I’ve had for months. Back at the beginning of the year, they inked a deal with Walmart to get their ginger beer products on the shelves of all 1500 US stores. This should boost the company’s financials, but I also believe its a strong buyout candidate for larger beverage companies in the industry.
LQMT (Liquidmetal Technologies Inc.): Doubled my position and now holding at an average price of $.40. The iPhone X release is slated for the first week of November and I think this stock could have a strong catalyst run-up toward $.50 or higher moving into that event. Long-term I like what I see for this stock as well considering the CEO invested millions of his own dollars into this company. You have to imagine he has big plans and believes in what the company is doing in order to do that.
FNMA (Federal National Mortgage Association): Still holding at an average cost of $2.96 and looking for a large 25%+ move to the upside on the trade. Thesis from previous watch lists still holds. There are pending lawsuits that could provide quite a bit of value to shareholders if they go in their favor.
TZA (Direxion Daily Small Cap Bear 3x Shares): I recently opened a position at an average price of $13.10. The IWM hit its head on the $150 level and was looking weak. This trade has been great for the past couple weeks with the exception of last Friday, when IWM gapped back up toward the $150 level again. If it breaks above that level convincingly, I’ll stop out of my TZA position. I’m not going to stand in the way of a market that wants to continue climbing. But if it drifts lower, I’ll lock up a 5-10% gain.
Closed Positions
CSCO (Cisco Systems, Inc.): Took the small win at $33.25 as planned in My Last Portfolio Update. Didn’t want to let this one go red on me. Sure, I left some profits on the table, but locking up profits is never a bad thing.
New Stocks to Watch
APRN (Blue Apron Holdings, Inc.): Took a stab at this one last month and might try again. There appears to be strong support at $5 seeing as it continues bouncing off that level. Short float is roughly 40% so this one can really get moving if some sort of good news hits or possibly even on technicals alone.
I’m also watching LINU and AMMA as momentum plays. They both made huge moves a week or two ago, are now consolidating, and I’m looking for a big move back to the upside. Being aware of the volume and price-action are critical with these types of fast-paced plays.
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