Help

k-man > Trade Notes

User Avatar
Brokerage Account
5 Day 0.88%
15 Day -1.25%
1 Month -9.08%
3 Month -10.66%
6 Month 22.67%
1 Year 68.13%
As of: 11/20/09
How is this calculated?

Member since: Nov 07

Groups

Favorite Links

k-man: Trade Notes

View All k-man's Trade Notes | View All Trade Notes

Trade

Sold 130 shares of MCGC at 6.20

k-man posted on 05/15/08 at 04:58 AM (Note posted about 9 hours after the trade)
Trades | Notes | Blogs
Users Bought (30 Days) 0 (0%)
Users Sold (30 Days) 0 (0%)
Market Cap 315.52M
52-Week High 4.99
52-Week Low 0.46
10 Day Volume 370,000
P/E -2.77
EPS (Trailing 12 Mos.) -1.49
1Day 5Day 1Mo 3Mo 6Mo 1Yr

Transaction: Sold
Symbol: MCGC
Quantity: 130 shares
Price: $6.20
Value: $806.00
Stop Order: No @ $
Target Price: $

They announced with their Q1 earnings that the dividend was going to be cut to .27/share.  I felt that AFN would be a better play since their stock is currently floating around the 2.50/share mark and they have a .25/share dividend that's good until the end of the year.  MCGC lost a lot of value due to portfolio writedowns.  Took major losses here, but I plan on recouping by being in AFN for divvies and covered calls.  MCGC may recover, but I believe it will be a while.  May get back in should the share price stabilize around 10/share or by going long on calls.

Share This! Report

Posted by k-man on 05/15/08 at 04:58 AM

Tag It | 1 user tagged it: mcgc, stock, sell

Comments

User Avatar
User Avatar Brokerage Account

corbinb2

Member since: Nov 07
5 Day -15.11%
15 Day 0.25%
1 Month -25.00%
3 Month -66.22%
6 Month -94.26%
1 Year -85.13%
As of: 11/20/09
How is this calculated?
Trades 214
Trade Notes 217
Blog Posts 86
Business Owner
Age: 40's
AZ UNITED STATES
corbinb2
Posted May 15, 2008 (06:03AM)

Hard to believe I just got out of AFN at 3.75ish a week ago. However the company does appear to have some legs. No free cash in the account at the moment or I would jump in at the current under $3.00 level.

Quote Report
User Avatar
User Avatar Trader Network Account

lifeisgrand

Member since: May 08
Trades Not Shared
Trade Notes 0
Blog Posts 0
lifeisgrand
Posted May 15, 2008 (02:28PM)
I wanted to learn from your trade - I hope you don't mind me looking over your shoulder.   I saw that you bought in Dec and Jan.   I noticed that in the 6 weeks from mid Feb to the first of April the stock had 10 bullish days and 21 bearish days.   Those distribution (bearish) days were a red flag that this stock was going downhill fast.   CANSLIM has done the math analysis about price drops - once it goes down 7% it is not likely to ever come back.   We need to sell the losers and not look back.   I'm not trying to be critical, just trying to study and learn.   I have learned this by getting creamed more than once. 
Quote Report
User Avatar
User Avatar Brokerage Account

k-man

Member since: Nov 07
5 Day 0.88%
15 Day -1.25%
1 Month -9.08%
3 Month -10.66%
6 Month 22.67%
1 Year 68.13%
As of: 11/20/09
How is this calculated?
Trades 40
Trade Notes 36
Blog Posts 32
Systems Administrator
Age: 30's
Georgia
k-man
Posted May 15, 2008 (02:37PM)
When Q4 earnings were reported late february, it appeared that MCGC was headed for recovery.  Next day the stock began tanking.  I was in it for the long haul because of the high dividend, but that got cut back and new shares were issued because of a rights offering that didn't go as well as originally thought.  Can't win them all, but I'm looking to recover my losses in AFN this year
Quote Report
User Avatar
User Avatar Trader Network Account

lifeisgrand

Member since: May 08
Trades Not Shared
Trade Notes 0
Blog Posts 0
lifeisgrand
Posted May 15, 2008 (03:06PM)
Ahhhhh dividends are something I don't factor in.    I'm clueless there. 
Quote Report
The above content is provided for educational and informational purposes only, does not constitute a recommendation to enter in any of the securities transactions or to engage in any of the investment strategies presented in such content, and does not represent the opinions of TradeKing or its employees. TradeKing provides self-directed investors with discount brokerage services, and does not make recommendations or offer investment advice. You alone are responsible for evaluating the merits and risks associated with the use of our systems, services or products. All investments involve risk, losses may exceed the principal invested, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Your use of the TradeKing Trader Network is conditioned to your acceptance of all TradeKing Disclosures and of the TradeKing Trader Network Terms of Service. 2007-2009 TradeKing.