Next week's goal is to break 2.8 mil. I made it to 2.78 this week, but a few of my larger positions lost ground on Thursday and Friday. Here's a quick overview. Please bear in mind that my spare time for research has been heavily cramped for the past month or so. My research lately has consisted of eyeballing the moving averages on Google Finance, and browsing two or three financial websites. I need to take some time in the near future to clear out a bunch of losing positions, and to find a comparable number of stocks that will grow over the next 30 days. I've got the lever (2.7 million bucks), I just need the fulcrum (time to find the right stocks):
1. (VG) short- The Vonage people are fighting tooth and nail to beat their patent-lawsuit problems. The $1.30 spike on Tue, after the judge gave the company a little slack, put my short position into the red. Of course, the one-day gains were an overreaction and the stock is back to $3.16 at the end of the week. I expect to be able cover this at approx $3 sometime in the coming days. Vonage management is willfully opposed to failure. I admire them for their guts, but I gotta get out of this short postion. In fact, with an earnings report coming up and the launch of a new product this very week, I'm gonna have to do a little research into the possibility of buying VG.
2. (RADN) long- Ugh, things were looking so good. I'm certain all of these fluctuations are based on irrationality. I'm going to hold this. RADN jumped $0.30 to $9.36 in a single day, and then overcorrected by almost a dollar for the rest of the week. Unnatural.
3. (GROW) long- Down almost 12 percent in two days. Thanks guys. The stock will bounce back. Hopefully with extra momentum. Of course, this is a mutual fund management company. Practically a derivative, this stock. I fully expect to get my $25k back this coming week.
4. (AGEN) long- Another lost opportunity. I was busy with real world activites this week. If I hadn't have been, I would have joined the profit taking that hit this stock the last days of this week. Antigenics is showing an overall downward trend. I'll be happy to break even with this. I've got too much pharmaceutical in my portfolio anyhow.
5. (QQQQ) long- Cash is a bad investment. So I'm putting everything I've got here, until I can think about what I'm doing instead of just guessing.
My short-term goal is $2.8 million. My long-term plan is to take this portfolio over $3 million, sell everything and then put the money in a few index funds and ETFs. At that point I'll start looking seriously into individual stocks. I'll buy shares of whatever I can be dead certain is undervalued, and can be left alone once purchased.
Then I'll ruin everything by short selling in million dollar increments, based on poorly-informed hunches.
-z