Tuesday, June 18, 2013


As some of you know, I been keeping a diary of my attempt to double $10,000 in less than one year.  I started this journey on April 18 of this year and started recording it a few days ago.  Until today, there had only been 3 trades. One short sale of Uni-Pixel and a cover and then the proceeds from the trade were re-invested into another short sale about a month ago on Radian.  Today, we covered the position at $12.92 and took a 6% profit.

Why did I cover? I had shorted Radian exactly a month ago at $13.69 and had expected from both a fundamental and technical standpoint for the stock to have a significant sell off and it did, dropping to approximately $12.  $12 was a support level, where in retrospect, I should have covered, but honestly I thought it would break that support.  Anyway, hindsight is always 20/20.  I'll be happy to take the 6% and move on.

Why am I moving on? Because, I see a better opportunity with Sunedison (SUNE). I will be shorting Sunedison at $8.45.

Why am I shorting Sunedison?  Answer; for the same reason I shorted RDN.  In addition, the market scares me a little right now. I do believe we will have a pullback at some point, I am just not sure when-so being short makes me feel a bit more comfortable than being long. 

So far, the account has gone from $10,000 to $13,658.00 and we will re-invest it all in to a short position on Sunedison.  See the figures below.

Update for Monday,  June 17, 2013: Initiated short position on SUNE (short 1616 shares at $8.45). 

Closed Trades:
5/17-short 942 shares of RDN at $13.69
6/17-covered position on RDN at $12.92

4/18-shorted 262 shares of UNXL at $38.10
5/17-covered at $29.44 (29% gain)

Start Date: 4/18/13
Starting Balance: $10k
Current Balance: $13,658.00
Return: 37%
Annualized Return: 225%

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