Thursday afternoon update.
The buzzard has been busy this week, preparring to remove myself from the ranks of the employed, working for the man minions, to one of self employment. Trading is now the buzzards sole means. Onto the trading...
I said goodbye to some dear friends today. I covered my 3,000 shares HRLY today at $10.01 for a net gain of $15,870.
Sad to say goodbye to this scam, and what a fine scam HRLY way. Government fraud, indictments, horrible earnings... You name it HRLY faced it this last few weeks. A complete and utter victory for anyone picking the bones of the HRLY longs.
Next inline for covering today was IVAN. I covered my 8,000 shares at $2.41 from $2.75. Net gain for the IVAN trade was $2,720.
Another fine carcass the buzzard found. IVAN, while not a big percentage gain was nice overall due to the fact that we were able to find shares and take a decent size position.
My good friend DXPE (1,500 shares) was next in line to be covered. I had been short DXPE for about 10 days at a price of $39.66. I sold this one the day I left for Anaheim and what a beauty it turned out to be. Almost straight down from my sell. During the time I held DXPE short the longs got a special trashing from IBD, having DXPE removed from their top 100 list where it had been #1. I covered DXPE today at $30.99 for a net gain of $13,005. Lately these bloated runners have been much too easy.
Now for the ugly. I had been short 3,000 shares HSR going into Wednesday. I covered 2,000 shares yesterday when the stock bounced off $12.00. Unfortunately I didn't cover until $14.25. I covered my final 1,000 shares today at $15.10. Total loss for the HSR short is $3,610.
Thankfully, not all is lost. The buzzard quickly realized his error and declared the shorts roadkill on HSR, going long 2,000 shares today at $15.60. I fully expect HSR to squeeze into Friday and Monday on the potential of being added to the IDB Top 100 list. HSR surpassed the minimum share price requirement of $15 on this run, and being added to the list should really fuel a breakout. Time will tell.
PFACP showed up yesterday on the Buzzards radar. I will have some more discussion on this one later. Currently I am short 9,000 shares at an average price of $8.45.