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. ​

Part Deuce

Got really tardy with posting trades and tracking the account. Had taken it from the $27K start to over $52K but then lost track of trades, took some distribution to myself, etc. 

Currently, holding a bag on some $NDRAW warrants but they don’t expire until 2022 so will continue to hold them. Might add some at current levels. 

Current account snapshot as of end of May 2019.  

Sold $GBR; Long $NDRAW, $SORL

Sold $GBR for a small loss or mostly flat. $USO has been strong but $GBR continues to trade sideways with decreasing volume. Think it risks losing the $2 level and could see $1.80s soon thereafter. Don’t want to stay in to find out. Best to cut losses and watch from the sidelines.

Use proceeds to buy 10K warrants in Endra ($NDRAW) @ 88¢. This is a small diagnostic imaging company that is potentially at an inflection point. I am choosing to do a play in warrants vs. commons in this account for a couple of reasons:

• I am just jaded trading $NDRA commons and with data imminent, I still don’t know how the market will react to their data in short term. Warrants give me an opportunity to take a longer term view of the investment that allows for a decent runway for the company to execute their strategy

• I have bought a small 15K position in $NDRA commons in one of my other accounts so that will take care of exposure to Endra commons

Below is my back of the napkin math on potential opportunity that warrants could offer if the Endra story gets legs:

On a separate note, bought a small position of 2,000 shares in $SORL just over $3. This is a beat-down Chinese auto parts company that is known to make big moves on positive earnings. I plan to hold my position through the upcoming ER.