Stock Trade Experiment #1: MEG (UPDATE)

Tuesday, May 05, 2009

Just an update to those who still remember this one.

Bought 20k stocks of MEG at 0.67 apiece last May 5
Sold 20k stocks of Meg today at 0.78 apiece.

(update: lol it's at 0.82 now, I stand corrected. Note to self: When the resistance line is at .85, the resistance is 0.85 damn it)

Computation is as follows:

Net profit over a two week timespan is 2,036.45

Driving factors of the price increase are
1. Inherent undervalue of the stock.
2. Sister stock FLI's increase in capital expenditure
3. Stock Market Rally in the dow last night

Expected decrease in price after 1-2 trading days.

Recommend buying price after drop is at least 0.72

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