mymeohmoneyblog

Selling RNO, (rio narcea gold mines ltd). A small cap, small price, small volume stock. Got the 5% arb spread that i'd bought it for a month ago. It's been hovering recently slightly above the deal price of 5.50; i was only able to sell about half on a market order in the last half hour before close here since i entered the trade, executing at about avg 5.54. Guess it's above its deal price because gold prices have been going up, but its basically dead weight now that its reached the deal price.

Bought 100k worth of wendys with my remaining cash here at the close of friday. Rumors it may get bought for 37-40. Currently at about 35. Merger monday news perhaps? Anyways, i'm a wendys fan, love their dollar menu. Where else can you go for a cup of chilli, a salad, and a baked potato for a buck a piece? Or a baconburger, or frosty, or chicken sandwich, etc..? Hmm? You tell me. LOL.

Got rid of my 1 remaining share of Gateway GTW that i'd been holding just for show. It'd be nice, incidentally, if we could see how everyone in the game has faired on their previous buys and sells. Those with good showings but current holdings without gain leave many to wonder how they'd made their gains. Something to think about.
Gateway btw is way close to its b.o. price at 1.87/1.90. No spread. Wonder why its so high compared to others. Maybe there's a thought out there that the buyer got a steal for name-brand and perhaps they'd (GTW'd) take a penalty hit in lieu of another suitor? don't know, don't care - it's behind me.

More or less sick and tired of my play portfolio here. Holding on to my random picks from the start. Want to sell but most of them are losers. MEOH jumping big time here and i didnt buy it for either play or real-life. Ughh. Force Protection, FRPT, another stock i like but havent mentioned, in the defense arena, going up good now. Bought some WEN in real life today. Monday i'll at least finish selling RNO. Will probably hold onto STN casinos until Oct5 or just after their xdiv, then sell. Not content with arb play money anymore, now that we're further into this game with more clarity about the field.
Monday ill pick a random stock to test daytrading, to see if its allowed. Also, will pick a random penny stock for just a k or 2 to see if the 5c/share or 5% max commission takes precedence, just out of curiousity.

Comments: View Comments |  Friday September 28, 2007