LAZY DOG Picks

[Deaddog]

Start a position in SFX@ 46.06

Will pick up a little more on a pullback
Stop = close below todays low
Target = 48
Will update at the end of day.

[Deaddog]

Have moved stops up on all open positions.
MOLX From 26.50 to 27
ZUMZ From 34 to 36
EL From 59 to 63
STX From 27.70 to 30

Most these positions have been held for some time so I'm lightening up on my risk.
Except for MOLX all positions will show a little profit.

[Deaddog]

MOLX Sold @ 27.04
STX Sold @ 31

[Deaddog]

Gap down this morning;
Stops were executed below where they were set.

EL sold @ 62.30
EFX sold @ 45.96

[Deaddog]

ZUMZ sold @ 37.02 (+3%)

All cash at this point. I'll see what the market wants to do.

[Deaddog]

Did a little bottom fishing this morning and started a position in TC @ 3.82.

This is more a fundamental play. TC operates in central BC and has just completed a mine upgrade/expansion at its moly mine and has a copper gold mine scheduled to be in production in the next 2 years. Earnings are down now because of startup costs but should improve as production increases.

I have no stop on this play and will buy more if it dips. Initial target is 4.60 and will only sell a portion at this price. A full position will not exceed 20% of my capital.

[Deaddog]

Picked up some more TC @ 3.42 today.

[Deaddog]

TC is one of the few fundamental plays I have invested in.
Here is how I plan to trade the stock.
I will start with about 40% of what I would consider my full position.
IE; if my full position is 5000 shares I will buy 2000.
I am looking for a 20% return so I will place a sell order for 1000 shares 20% above entry price for ½ or 1000 shares.
At the same time I will place an order to buy another 20% or 1000 shares approximately 10% below my initial entry.

Once either a buy or sell order is triggered I repeat the process.

So as it stands right now I bought 40% of my position at 3.82 and place an order to sell @ 4.60 and an order to buy 20% more @ 3.42

The buy order was triggered so I now have a 60% position with orders to buy and sell 20% of a full position @ 3.02 and 4.20 plus the original sell order @ 4.60

If TC continues to fall in price I will buy 2 more chunks at 3.02 and 2.62; after that I will have to reassess if my opinion was correct.

What’s at risk? If TC goes to zero I will have lost 20% of my account.

[riverbabe]

TC is one of the few fundamental plays I have invested in.
Here is how I plan to trade the stock.
I will start with about 40% of what I would consider my full position.
IE; if my full position is 5000 shares I will buy 2000.
I am looking for a 20% return so I will place a sell order for 1000 shares 20% above entry price for ½ or 1000 shares.
At the same time I will place an order to buy another 20% or 1000 shares approximately 10% below my initial entry.

Once either a buy or sell order is triggered I repeat the process.

So as it stands right now I bought 40% of my position at 3.82 and place an order to sell @ 4.60 and an order to buy 20% more @ 3.42

The buy order was triggered so I now have a 60% position with orders to buy and sell 20% of a full position @ 3.02 and 4.20 plus the original sell order @ 4.60

If TC continues to fall in price I will buy 2 more chunks at 3.02 and 2.62; after that I will have to reassess if my opinion was correct.

What’s at risk? If TC goes to zero I will have lost 20% of my account.

Fascinating! Does your broker follow the first in/first out rule for tax accounting purposes? If not, the trade dating could be manipulated to avoid wash sales and/or being labeled a day trader. Maybe it doesn't matter in Canada?

[Deaddog]

Fascinating! Does your broker follow the first in/first out rule for tax accounting purposes? If not, the trade dating could be manipulated to avoid wash sales and/or being labeled a day trader. Maybe it doesn't matter in Canada?

I do my own tax accounting. Use a LIFO type of system. The last chunk I buy will be the first one I sell so I'm always reporting a Capital Gain.

Day trading is not a problem. Up here in the Frozen North (we have had 3 mornings with frost in June) there is no pattern day trading rule and I have enough in the account to avoid it at any rate. Also Cap Gains is not differentiated as short or long term. You pay income tax on 1/2 your capital gains, the other 1/2 is tax-free.

There is no wash sale, as I won’t be reporting a loss unless I give up on the strategy. That will happen if TC doesn’t turn around or when it goes up significantly and starts to roll over.

[Deaddog]

Dipping my toes back in the water with the purchase of ONXX @ 47.00

Initial Stop @ 44 Target = 56
Risk is 0.75% of Capital.

This is a momentum play. The above average move(both price and volume) on Friday was the set-up.

[Deaddog]

JIVE @ 17.00: Stop @ 15.50 Target = 20.40
Risking less than 0.5% of capital.

Another Momo play just before the close;
JIVE had a above average price and volume move and closed in the top half of the move.

I’m fighting the general market so have kept position size low.

[Deaddog]

Playing some breakouts today
Took positions in QCOR, FSLR, and SIMG.

QCOR @ 48.63 Stop @ 44.50 Target = 58 (Break-out to new high)
FSLR: @ 14.85 Stop @ 12.25 Target = 24 (Bottom Fishing)
SIMG @ 4.32 Stop @ 4.10 Target = 5.22 (Bottom Fishing)
As always risking less than 1% of account value.

[Deaddog]

Dipping my toes back in the water with the purchase of ONXX @ 47.00

Initial Stop @ 44 Target = 56
Risk is 0.75% of Capital.

This is a momentum play. The above average move(both price and volume) on Friday was the set-up.

Stopped out @ 44.00 for 6.4% Loss

[Deaddog]

JIVE @ 17.00: Stop @ 15.50 Target = 20.40
Risking less than 0.5% of capital.

Another Momo play just before the close;
JIVE had a above average price and volume move and closed in the top half of the move.

I’m fighting the general market so have kept position size low.

Hit Target @ 20.40. for a 20% gain.