CRIME AND PUNISHMENT
CNQ/TLM
I closed positions this morning with a loss, a fitting punishment for my stupidity. This is third time that I tried to make some speculative quick money and I failed all three. I am truly not very good at this short term trading game and and I MUST stop. Desire for quick money often leads to losses. You got to be patient and wait for the opportunity to come to you.
MTK
It has down by 20% over the past two days for no apparent reasons other than the fact that its CFO has decided to leave for personal reasons. This is a very thinly traded stock and it tends to swing widely. The company also reiterated its FY06 guidance. While the recent senior management changes were not exactly positive signs, I believe the punishment seems to be unwarranted. I added some (4.6) here and I believe it will bounce back to 5.5-6.0 range for a 20% gain.
BLKB
BLKB also down significant since yesterday. The decline appears caused by a small piece of news that one of its major shareholders have decided to distribute its holdings of BLKB to its investors, who may or may not elect to sell them. Again, I thought the fall is unwarranted. I was tempted to open a position at 18, however, I thought the upside is not sufficient for me. At 17, it becomes more attractive to me. I believe it will reach 20 by the end of year for a 17.6% gain, plus dividend. More importantly, I believe the downside risk is limited.
AXC/CVI
Continued with winding down of my energy positions. Sold both ASC and CVI. I believe both are good companies and have potential. However there will be a correction in crude price in the next few months and I can buy them back with lower pricing.
BDT
Closed the small position of BDT (46.5) here. The trust is priced at $12/units, which implies BDT's pricing of $44.35 ($12*3+8.35). If my understanding is correct, BDT's share should be moving towards $44.35 in the next few days, until effective date, which is scheduled on Feb. 27. Given, that better to trust my understanding and take profit here. In any event, 21% return for about one months is not too bad at all.
I closed positions this morning with a loss, a fitting punishment for my stupidity. This is third time that I tried to make some speculative quick money and I failed all three. I am truly not very good at this short term trading game and and I MUST stop. Desire for quick money often leads to losses. You got to be patient and wait for the opportunity to come to you.
MTK
It has down by 20% over the past two days for no apparent reasons other than the fact that its CFO has decided to leave for personal reasons. This is a very thinly traded stock and it tends to swing widely. The company also reiterated its FY06 guidance. While the recent senior management changes were not exactly positive signs, I believe the punishment seems to be unwarranted. I added some (4.6) here and I believe it will bounce back to 5.5-6.0 range for a 20% gain.
BLKB
BLKB also down significant since yesterday. The decline appears caused by a small piece of news that one of its major shareholders have decided to distribute its holdings of BLKB to its investors, who may or may not elect to sell them. Again, I thought the fall is unwarranted. I was tempted to open a position at 18, however, I thought the upside is not sufficient for me. At 17, it becomes more attractive to me. I believe it will reach 20 by the end of year for a 17.6% gain, plus dividend. More importantly, I believe the downside risk is limited.
AXC/CVI
Continued with winding down of my energy positions. Sold both ASC and CVI. I believe both are good companies and have potential. However there will be a correction in crude price in the next few months and I can buy them back with lower pricing.
BDT
Closed the small position of BDT (46.5) here. The trust is priced at $12/units, which implies BDT's pricing of $44.35 ($12*3+8.35). If my understanding is correct, BDT's share should be moving towards $44.35 in the next few days, until effective date, which is scheduled on Feb. 27. Given, that better to trust my understanding and take profit here. In any event, 21% return for about one months is not too bad at all.
posted by ZIGZAG at 2/22/2006 08:18:00 AM
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