Friday, February 4, 2011

The Long And Short Of It - Thursday

Today was my best P&L day in over 4 months. My entire portfolio was up 2.8%, which I am quite happy with given that the markets were only up about 0.2% today. The majority of the performance was due to a small number of large positions in my LT accounts which finally woke up and posted strong gains.

Some of day's biggest contributors:
  • Sensio 3D - SIO.V (+7.3%)
  • Neo Material Tech - NEM.TO (+6.2%)
Sensio 3D is one of my favorite LT plays that I've recently blogged about. You can read more about the company here if you missed it After falling for most of the year, buyers suddenly came back in volume driving the share price up by as much as 13% at one point. Hopefully this was a sign that the bottom has been seen. I will be watching the price action tomorrow for confirmation. 1.10 should be a very strong support level now.

Neo Material Tech is a processor of rare earths. From what I understand about rare earths (which is not a lot), once the metals are mined they require a lot of processing to make them useable. NEM.TO stands to benefit from the sudden increase in the number of mining plans that have recently been announced.

Today's Trades:
  • Bought HGD.TO @ 11.05, then sold it @ 11.74 for a 2.8% loss. Gold shares looked like they were poised to break lower and provided good risk/reward. Little did I know that gold would turn around and rally like a mofo. By the end of the day HGD.TO closed at 10.43, so here's a good example of why stops make sense.
  • Bought HND.TO @ 7.78 as a short natgas play. It closed @ 8.22 (+5.7%). You can read my blog post here at if you are interested in the rationale behind the trade.
  • Added 50% to ENOC exisitng position @ 24.76. I was already long @ 25.81. If price falls again tomorrow I will probably sell this position for a loss.
  • Bought PC @ 13.32.
  • Bought TBT @ 39.53. I issued a trade alert on this one earlier today when I went long.
Good Night

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