by Travis Johnson, Stock Gumshoe | August 2, 2019 5:29 pm
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And in other Cobalt mining news eCobalt Solutions (ECSIF) which was also developing a Cobalt mine in Idaho was acquired by Jervois Mining (JRVMF), an Australian company, after eCobalt ran out of funds to continue development. The Governor of Idaho is attempting to challenge the sale on National Security grounds stating we need to keep control of our own country’s Cobalt resources since they are critical for the development of batteries for electric vehicles.
Shares of eCobalt have tumbled from .44 in Jan ’19 to .22 before the acquisition. Where once I had 1000 shares of eCobalt I now have 1650 shares of Jervois at .14 per share, leaving me down a couple hundred. Oh, well, once in a while I take leave of my senses and take a small flyer on a penny stock and this is what happens. No big deal since I never invest much in them and every so often it becomes a fun ride.
I also still have a small position in CleanTeq, but honest to God, I make more money betting on football games than I do on penny stocks.
“GIVE US WHAT WE WANT RIGHT NOW AND DON’T YOU DARE CHARGE US FOR IT” … Amen, and why I’m supporting Marianne Williamson for president. Go ahead, jeer, but finally … someone who says it like it really is, just like Travis did above.
I see that Fibra Uno has a 90-day average volume of 53,000 shares. I get a bit skittish buying anything under 100,000. Do you have a minimum?
Not for a stock I intend to hold for a long period of time — I would have been willing to buy OTC because the US and Mexican markets are pretty closely connected, meaning that investment banks can easily arbitrage to kee the share price in NY from getting way out of line with Mexico, but I bought in
Mexico, where volume is much higher and most of the trading takes place, because it was a penny or so cheaper.
Hello Travis, How do you buy stocks out of US? Do you have brokerage account in Mexico, China etc..?
Hi Travis,
Can you please explain this statement “I don’t always follow stop loss signals, but often do ”
My question is , how do you control a stop loss order once you set it ?
Will it not trigger automatically once the stock breaches below the stop price and in which case you can’t STOP the order from being executed even if you wanted to ?
I don’t enter stop loss orders in my brokerage account, usually, just monitor the price levels. Sometimes folks call this a “mental stop”.
I always note the stop loss trigger, and if the stop loss level is hit I re-assess the company. Some stocks I’m very confident in over the long term and don’t follow stops for, sometimes I conclude that the share price drop makes it more appealing and I buy shares, sometimes, particularly with momentum stocks that have no justifiable valuation “floor” I follow the price signal and sell.
I always list the stop loss level in case folks want to follow it, but I do not follow it mechanically.
Thanks for all your work Travis, your insight and wisdom saves me so much pain. Reading your reports before I make my decisions always washes the FOMO and the panic away. Much appreciated, Will. Perth, Australia.
Hi Travis,
How do you decide what the stop loss trigger will be? Is it just what you are comfortable with? I am new at investing in stocks. Thanks.
I usually use the volatility quotient stop loss from tradestops.com — essentially, it triggers when the stock falls “more than usual” so it’s looser for very volatile stocks, tighter for
Slow-moving blue chips.
wcjbic since you are a member, you have access to the Real Money Portfolio a spreadsheet where Travis posts the stop loss trigger for the stocks he is invested,
Under ‘articles’ at the top of the page, hit ‘premium content’ and on the right side ‘Real Money Portfolio’
Well that was some bad timing on Friday… should have waited until today to do all my buying 🙂
“probably thanks to earpods”
I think you meant “AirPods”
EarPods are the regular wired earbuds, AirPods are the truly wireless ones.
Oops, yes — sorry for the malaprop.
I just tried to expand my position in FFXDF and discovered that it is restricted under rule 144a and cannot be purchased in US retail accounts. Why are you still recommending it?
I’m not recommending anything, just telling you what I find appealing and what I own. The brokers cracked down on Fairfax India’s unsponsored ADR this year because they don’t comply with SEC rules, not sure what the impetus was, but I still like the company and would happily buy more on the Toronto exchange. If you don’t like that but still want India exposure, I also invest through MINDX and there are a variety of decent India ETFs.
Curious what the Gummies here use to buy foreign market stocks such as Modern Times Group (MTG-B)? I have Scotia itrade and Questrade accounts, both allow Canadian and USA markets but no other foreign markets.
I like Interactive Brokers, though many brokerages will now provide access to a variety of markets.
Trade Note:
At Home (HOME) hit my stop loss and I sold today, so that position is now cleared out of the portfolio — I do still have a small speculative call option position in HOME.
This is a stock that I thought could recover, based on the potential for rapid store expansion at the same time that they are recording decent same store sales — some of the best stories in retail are of regional players going national. Sadly, it doesn’t always work — there are still takeover rumors for HOME, and some hedge funds have taken sizable stakes (and Whitney Tilson drove a little attention their way last week), but this was a speculation on the company being able to begin turning the tide… and the stock price is telling me they aren’t doing that, so in the absence of any personal conviction about the company or the appeal of its stores, I’ll get out. No real impact on the portfolio, this was one of my smallest holdings.
Arista Networks (ANET) also hit a stop loss trigger price in the selloff this week, but I did not sell and, as you can probably tell from the thoughts I posted above about the quarterly results, I don’t intend to in the near future as long as I continue to like their prospects for the next wave of data center upgrades.
This is a bit out of the blue – but what’s happening to Wrap Technologies – down 33.9% since it received a positive nod quite recently?
I mentioned them at the end of the commentary above, and WRTC did report earnings after that but there was no substantial news — still just trying to build demand with training and marketing and building up a distribution network. I haven’t changed my outlook on Wrap — to copy what’s above:
“