*I’m posting this a lot later than when I wanted to, almost a month in fact.. however judging by GROW’s current price of $11.83, I’m glad I sold when I did last month.. heh heh. I have not tried another TimAlert trade since this one.
Well as you know from my first TimAlert trade, and subsequent missing of the exit of Tim, I had held onto my ‘GROW’ short a lot longer then what was likely a good idea.
I’m writing this post a few days weeks after I’ve closed my position. In fact, I’m sort of kicking myself cuz as usual, the day after I close my position, the stock moved rather large in the direction I wanted it to. It doesn’t really matter to me, I was right in my assumption that it was still a bad chart and it was going to move down again anyhow, this is actually not a PennyStock to Tim’s standards, so I knew if I held on, it would tank eventually.
I closed my position at 8.22 on the 19th of July, after watching it bounce of the 8.00 mark a few times (see chart below.. the cross hair is where I sold).
So as you can see, I did exit it at the proper time that day… almost nailing the low of the day actually. However if I had just waited until Monday, I would have realized a lot more gains in that it plummeted to 7.80 and below the next day. Oh well… left some on the table. A win is a win, and I’ll take it. 0.48 x 35 = $16.80.. yep.. a big winner indeed.. however wait a minute, I only invested $300… so a 5.5% gain… hey, that’s not laughable.
Mind you, I’m more interested in my buy/write of LYG which is working out pretty well so far… the 2 options I sold for $1.80 are now worth only $1.10 (0.75 for the call, and 0.35 for the put) at the moment, and dropping as time goes on… unfortunately the stock has dropped as well to 4.51, which, from my $5.90 entry price, is a good 23% decline… having said that, 11.3% was today.. BUT the big news is that it announced a huge dividend of $0.8477a share for people holding stock before June 23rd.. and who was? I WAS!! so that’s another $84.77 which I will be paid on the 30th of June (according to SEC filing).
Nice.