Week Recap

This has been a good week for me, as on Wednesday I hit a new high in profit gained since I started trading again (late 2012). 

Unfortunately, there were some bad picks this week, but that is going to happen.  The key is to get out before taking much of a loss.  Here were my trades this week:

1. MDNT - Bought at an average of .0228, and sold at .0222.  The stock is selling for less than half that now at .0108.

2. ELRA - Bought at .0122, and sold at .0105.   The stock closed at .01 with a last minute paint job, however, the bid is down around .008 now.

3. NHPI - Bought at .004 last week, and sold at .0045 today.  The stock closed at .0042.  Despite this, I still think the stock can do well, unless it falls below .004.

4. FRMC - Bought at an average of .043. I still own it, and it closed at .04.  This was initially a winner, as it closed at .0535 the day I bought it.  I did not sell because the chart showed further upside.  However, after breaking the previous days high and hitting .056 in the morning, someone dropped 200,000 shares in a market order, and drove the price down suddenly.  This did allow me to bring my average down from .045 to .043, but I obviously would have rather had seen the stock continue to flourish.

The chart continues to indicate a nice rebound coming, at least to the 10 cent level.  The RSI is in the 30's, which indicates the stock is close to oversold.  Additionally, updates from the company are expected soon.

5. RITE - Bought at an average of .0034.  The stock closed at .0037.  It got as high as .0045 this afternoon.   I did not sell then, since the chart indicated we should at least see .005 to .01.  Most likely there was profit taking from those who bought in the .002's the previous few days.

If RITE and FRMC move the way I expect, I should be making new highs next week.

Have a great weekend everyone!