Wednesday, January 2, 2013

Portfolio Update: OPEN, PRLB and BWLD Purchased

I began building a position in OPEN today on the recapture of the $50 level. My plan is to build this position by scaling in on pullbacks to the 50 day, looking for a major move this year as the heavy (33%) short float gets squeezed and investors see the massive potential for this business model.

I made a support level buy of BWLD with a stop beneath recent support only to be immediately poleaxed by the descending 50 day moving average as the stock touched this resistance and sold off 3% to be one of the 7% of stocks that were negative half way through the day. 2013 may be my lucky year because I may be bailed out of this weak stock due to the after hour announcement that SAC Capital has acquired a 5% position. My target for BWLD is $90, but I definitely believe this company has the fundamentals and brand name to trade well over $100 in the next two years.

I bought a small amount of PRLB due to it showing up on my fundamental finviz screens, breaking above the $40 resistance and also being related to the high PE expansion being seen in 3D printing stocks. Once again I instantly regretted this decision as the stock knifed lower and went negative on the day. This doesn't concern me like BWLD did since PRLB has run so much so fast and is due for a price or time correction. I am a buyer of PRLB in the 30s, especially the $34-36 range.

Current Portfolio
ACI
AIG
ALGN
BWLD
DDD
FARO
ONVO
OSIS
PRLB
SIRO
SSYS
XRX

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