Cashing Out & Moving To A New Strategy

I’ve decided to sell out of my positions while I’m still up. In fact I’ve sold out of all of my holdings today with hopes of getting back in with a real strategy.

Unfortunately CTIC had a big drop today (around 40%) although I still finished up big overall. I sold out at 40 cents 8 days after buying in at 12 cents. That’s a gain of 233% for me. Sure I could have got out a bit higher and it may go higher again, but I’ve lost my confidence in the stock after today’s big drop. I wanted to lock in these profits.

Because of LJPC’s big gain today (up nearly 50%) it actually ended up being my biggest overall gainer. I bought in just 7 days ago at 6.38 cents and I sold today at 25 cents. That’s a gain of 292% in just one week. Obviously, I have to be pleased with that performance.

I also had big gains with GM (+89%) and C (+65%) and while I think there’s a good chance that they both may go up a lot more eventually they aren’t the kind of “swing trades” that I want to get into now.

While I’ve done very well with these plays, I feel like I’ve got very lucky. I would like to take these gains and try a more strategic approach. I haven’t decided exactly what that approach will be, but I do plan on continuing to buy into low price stocks because they are the ones that bring the huge returns (of course they also have huge risk, so I have to figure out how to minimize my risk while still giving myself a chance for the huge returns.)

I’ll will update when I’ve decided upon my new approach. I have to wait for my stock sales to settle before I have access to my cash anyway (I’m going to be moving from Sharebuilder to somewhere else so I don’t have to deal with these ridiculous fees on large volume stock trades.)