Swings into June

So here’s what happened in the second half of May. Made a few thousand dollars on my $AKTX swing. $NDRA swing was also successful with about $16K in gains. This is one ticker I’m still really torn on. Tremendous potential for the company but still unsure how quickly they can execute to their plan. Have got exposure to the ticker in another account so when the swing started working in this account, I decided to book gains and reduce risk.

As we head into June, I’ve got two swings in the IB account: $CAPR and $AKTX. I’ve got a rather large position in $CAPR in this account because I really think the company is undervalued and remains at the cusp of an inflection point. Love their pipeline and willing to wait for the story to play out. $AKTX is another one I really like with catalysts in the coming weeks. I wish I could buy more $AKTX but the account is tapped out. Might move some money around from $CAPR to $AKTX but do think that $CAPR has potential to make a bigger move than $AKTX in the short term.

Trade Recap (Feb-Apr 2020): $MNLO, $MCEP, $WWR, $AMRN, $BCRX, $ALDX, QTNT

So here’s what happened since my last blog post. Coronavirus and COVID-19 have become household names, $SPY melted from a high of 335 level on Feb 19 to lows of 218 on Mar 23 - that is a drop of 35.8% in just about a month’s time. Oil futures went negative just this past week. Drop in major indices and big caps brought a lot of volatility and depressed valuations to small caps. This in turn created a lot of opportunities for entering and adding to value swing positions.

To take advantage of the situation, I added an additional $30K in funds to this account. I am considering this as a loan to the account and will take a distribution back out to myself at some point.

7/17 Update: Took out $32K in distribution to myself so this cancels out the $30K in funds that I had loaned out to my IB account.

With this in context, let me get to the trade recap from the last couple of months. I executed several trades - most of them worked and some didn’t. I also did a few very short term swings and day trades which is not my usual style. In summary, I’ve got too many trades to recap here in retrospective but in the spirit of full transparency on this account and the blog, I will post below all the trades from my last blog entry to date.

$CAPR was a monster swing and think this one has still some juice to go so will look for additional opportunities to trade this ticker. $ALDX was a nice gainer too. Pretty solid returns overall on the account and I am pleased with the ramp.

Currently holding swings on $AKTX, $NDRA and about 33% of NAV in cash for new opportunities.

Long $CAPR, $BORN

Here are my current positions:

As mentioned in previous post, I doubled down on $NDRAW and brought down my cost average. I continue to think warrants are very cheap here valuation wise if the thesis works.  

$CAPR is a deliberate play. Recent R/S, low float with data coming up end of June / early July. Co has cash into Q4 and have mentioned that they will raise if the upcoming data is favorable. Tells me there could be a big run especially given that R/S play with news are currently a hot pattern. Chart is setting up and ticker feels like trading thin. My target here is $7-$10+ if it catches momo. 

$BORN is a speculative play. They’re scheduled to delist June 19 so entering for a final delisting run if we get one. ​