July 2010 Results

I experienced low volume trading on my picks in July.

I'm still concentrating on sub 20 cent stocks with a sweet spot of under 10 cent stocks.

I eeked by with 55 trades for the month whereas I usually trade above 100 trades a month.

I still ended the month with $4,075.00 Gross Sales -- ($3,692.75 Net Sales).


Trades picked up in the last two weeks of July for me.  This tells me that there will be accumulation of stocks during the month of August as we head into the Fall months. I'll be buying in larger quantities and flipping.  Institutional traders are still by far the biggest penny flippers and manipulate the stock prices. Its still buy on the rumor and sell on the news.

Penny stocks are extremely volatile so stick to a strategy - especially an exit one. 


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July 1, 2010 My TFSA bal was $16,268.25 - July 30, 2010 its $17,337.60 - up $1,069.35

July 1, 2010 My RSP bal was $69,112.06 - July 30, 2010 its $70,772.41 - up $1,660.35

My combined total last year July 31, 2009 was $37,121.53 .  July 30, 2010 its $88,110.01 - up $50, 988.48


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My combined cash position as of July 30/10 sits at $27,608.06 or 31% of  $88,110.01

I still want to keep it close to 50% to take advantage of the down days.

To make money everyday you need to have stocks on hand to sell - its the nature of the beast.
Its the biggest reason to always keep a strong cash position to pick up the dips.

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I've included several screen shoots of my July - 2010 results.

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Following is my monthly day-timer.








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Its a good thing my commission costs are only $6.95.

As I experienced a lot of "Pings" this month. I call a "Ping" a trade where someone only buys or sells 1,000 shares to see if they can get you to move your pricing so you don't get hit with a commission cost bigger than your profit.

Example

Trades under 10 cents are in 1,000 share blocks (over 10 cents its in 500 share blocks).So when someone buys 1,000 shares from you for 6 cents it = $60.00 then you add your commission. In my case its $6.95. Many times I'm scalping at .005 cents so my profit on this is $5.00. So I lose $1.95 If I paid higher commission costs, my lose would be higher and I might be tempted to raise my ask. When scalping penny stocks, It helps to work with low commissions.

Institutional traders pay much lower commissions  and do most of the pinging.

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Following is one of my excel spreadsheets

Bal ---    RSP/TFSA/Total                             ---   Net Sales  RSP/TFSA/Total







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RSP balance





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TFSA balance





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RSP activity page 1






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RSP activity page 2







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TFSA activity page





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Thanks for checking out my page. Red Mars

My current short term combined account goal (RSP & TFSA) is $91,000.00



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