May 21 Review
Sold for Gain
FPP - $2410
ROYL - $505
Sold for Loss
XNL - $384
Total Gain - $2531
It was another crazy day in the energy sector as oil tops $132 with the big news that Crude futures are trading over $140! Are we going to see $150 a barrel oil? Back in 2003 I created a website called GeoCrisis that predicted this very thing with the advent of Peak Oil. The real question is how long can this bull run?
PDO showed no signs of stopping again today closing at $27.10 up 18.60% and FPP was all over the place with huge volume as expected. It had a low of $5.80 and a high $8.54 before closing at $7.23.
I sold all at $8.00 and would have bought more on the dip but decided to add positions in two stocks I had been watching TGC and BPG. At one point I could have taken another $1000 gain in both of these but will hold to see what tomorrow will bring. Both closed very strong which is what I look for with TGC up 35.42% at $1.30 and BPG up 36.17% closing at .30. Buyers were at the ready till the closing bell so with such strong closings I should be in very good shape going into tomorrow for some decent gains.
BPI Energy Holdings, Inc. is engaged in the exploration, production and commercial sale of coalbed methane (CBM). CBM is a form of natural gas that is generated during coal formation and is contained in underground coal seams and abandoned mines. It focuses in the acquisition, exploration, development and production of CBM reserves located in the Illinois Basin, which covers approximately 60,000 square miles in the mid to southern part of Illinois, southwest Indiana and northwest Kentucky.
TENGASCO, Inc. is in the business of exploring for, producing and transporting oil and natural gas in Kansas and Tennessee. The Company leases producing and non-producing properties with a view toward exploration and development, and owns pipeline and other infrastructure facilities used to provide transportation services. It utilizes seismic technology for the discovery of reserves. The principal markets for the Company’s crude oil are local refining companies, local utilities and private industry endusers.
The big loss of the day was one I told myself to put a stop loss on....but did I.....? Of course not! So I had to pull the trigger fro a loss on XNL....just to much downside and a VERY weak closing.
I'm still holding on to SYNM, AOG and as you can see in the holdings section IMB and MNKD. The first two look good going into tomorrow with SYNM up 7.91% and up in AH. AOG closed up a nice 11.59% so we should have another $2500 day if we play the trades right. One thing I have learned is timing, patience and letting go of all fear and any ego. If you believe in it after doing your DD, buy on the dips and sell into the tops of that strength in the high. And if you were wrong, and Lord knows I have made many mistakes, PRESERVE YOUR CAPITAL and get out before you get trapped and have to average down. Something I have learned the hard way as all traders do. There is nothing like a big loss to strengthen those memory cells into lessons learned. The trick is to put it behind you and move on with the next trade and make up the loss.
Of course I'm still holding CPST even through this down day as I committed the day traders sin.... I have grown attached to it and believe in it's technology...time will tell. Stay tuned for tomorrow's updates as we should have a good day and I will be looking to take gains and enter new positions if the capital is released in one of the accounts.
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