My best results (remember, I'm an amateur at best!) have come from picking up stocks that are taking it on the chin or are slowly rising from a TKO. My current portfolio is mostly cash and puts. Given that the indices have gone straight up my puts look terrible though in june/july they were up 150%.
Lesson 1: Never let a 150% gain get away...particularly if you have options.
Lesson 2: If you are buying puts, you ought to be hedging something other than a cash position.
I've been poking around for some long opportunities. Last week, I bought 500 shares of MIND (Mitcham Industries) @11.16 (including fees) They lease seismic equipment to oil exploration and had been beaten down pretty well. They were on my watch list, and I saw that they were improving.
Today I purchased 200 shares of IVGN @ $56.30 for my retirement account. It's a stock that I've followed for a while. They are getting beat up today on disappointing earnings, BUT, I had marked support in their chart (last earnings disappointment) and that level was not breached. I figured that I had a low risk entry point. As I write it is at $57.25. We'll see how this holds.
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