Novick Lab / DB Steve

1. sold PSMT at 16.05 (offset 15.87)
2. sold PSMT at 16.44 (offset 16.17)
3. Bot PSMT at 16.17
4. sold my small HOGS position at 10.42 (average buy 10.07); no position left
5. sold my CTFO at 4.50 (ave buy 3.80) - no position left
6.sold 25 % of LZR at 8.60
7. sold the CSR at 7.35 and 7.58 that I bot Tuesday at 6.72 and 7.12 (some left)
8.added more BLSW at 1.27
9. added more ELTK at 1.22

Equity wise I had a bad day, with GMTI down 0.03 and down 0.05 for the week  (17%)
ELTK down 0.16 to 1.22 and down 0.26 for the week (18%)

PSMT was up 0.46 today, back over $16; STKL after an early loss closed higher at 2.36;  The UNG etf recovered about 0.5.

Not sure about GMTI, but I believe purchases of ELTK under $1.30, LWLG under 0.85,  and BLSW under $1.30 should prove very valuable.

A fairly good market today with only the Dow closing lower and who really cares about the Dow.  Nothing changes however in the bearish tone to the market.

UNG was sharply lower so I doubled my selling of August $14 at $1.00.  UNG closed at 14.07 from 14.48.

Movers today included CSR (7.28 from 6.79) which I purchased yesterday and STKL, up 0.14 to 2.31.

A feeble rally attempt but sentiment has turned more negative.  As I mentioned yesterday, the Nasdaq had closer support and was actually up today while the rest of the market was slightly down.  Weak were the financials, and the XLF is now down to 11.61, approaching my buy zone of 10-11.

ELTK opened at $1.56 (why anyone would pay $1.56 when there have been thousands of shares offered at $1.49 for weeks) but that is a new yearly high and matches my prediction made just a short time ago that ELTK would see $1.50.

As usual, I did some trading:

1. Added to LWLG t 0.80 to 0.81 (closed 0,79) ; major breakout in this speculative startup and worth jumping on board NOW.

2. Sold 35% of SRDX at approx $19.55 (closed 19.57. up 0.37)

3. Closed out by buying back my UNG July $14 puts at 0.535. (had sold at 0.85 just 6/12)  These would probably make more money if I held them but I may sell them again but they won’t move much until closer to expiration.  Meanwhile, if I had held my June $15 puts, they will probably expire worthless Friday (UNG closed $15.88, up 0.39).

4. Increased my CSR position 50 % at 6.62 (sold some 6/5 at 7.68)- closed 6.72. down 0.21 and over a $1 this week.

5.  Tried to play a short term bounce on the market and bot the SSO at 25.69 and 25.76 but sold at 25.81 and 25.96 (closed down 0.13 at 25.66)

There are several stocks I have been following that came in my buy zone today but I didn’t have enough money and I was bearish the market near term,  HOGS got below $10 and closed 10.17, down more than $2 this week,  MED was below $8 and closed $8.13.  Maybe next time.

LZR which had shot up strongly Friday came back over $1 today.
PSMT failed to move even when the market moved higher and closed up a nickel,

Still holding a small gain for the week.

A bouncing market today did not change the bearish bent to the recent market activity.  Did some buying nonetheless.

Bot more HOGS at 9.96 (closed 10.24); bot back the LWLG at 0.80-0.81 I sold at 0.90 last week.  Bot more CSR at 7.12 and then 6.72 (closed 6.79)

also reestablished my UNG put position selling August $13 calls at 0.95.  Skipped to the August and dropped down a buck (instead of July $14) (UNG was 14.43 at the time); UNG would have to trade below $12.05 to lose money on this one.

PSMT held but is still under $16.  ELTK failed to trade today.  STKL pulled back and closed on the low at 2.17 after trading at 2.39.

A breakdown in the market today confirmed the near term bear trend.  S&P closed 893 with support now at 880.

I wouldn’t get overly bearish as ups and downs with their bullish and bearish sentiment are expected.

Took the opportunity to pick up some shares today.

Bot ELTK at $1.26 (closed 1.38); just stuck in a low bid

Bot some more BLSW at $1.30 (closed $1.31) same bid process

Bot more PSMT at 15.84 (closed 15.72)

Bot some HOGS at 10.19 (closed 10.02) - initial small position

Some interesting news on GMTI about starting a new business (see yahoo or other news sources); closed down 0.01 on heavy volume of 180,000.  What does it all mean ?  Not sure.

PSMT is again under $16 and I believe a great buying area.

The market did EXACTLY as I said on Thursday.  Rallied into the 925-930 area (top 927) and faltered.  A confused market, drawn in two directions.  Look for more of the same.  Near term I see a 905-927 range (next few days is near term).

I tried to take advantage of this and bot the SDS at 54.97, sold half at 55.02 but got out of the balance at 55.02 to rush out the door and play golf.  Then the big rally came (with the market tanking) but chenged directions later. Small profit, but better than a loss.

GMTI was very active again, trading over 186,000 (that’s thousands) and closing back up at 0.30.  Sold some at the bid at 0.28-0.29 (about 2% of my position).

Sold half the balance of my CSR at 7.47 and sold some JVA at 3.25.  Even sold some LWLG at 0.92 I had just bot at 0.83-0.85.  I was raising cash in a market that could work lower.  CSRlosed 7.73 and JVA at 3.41.

Not happy that my SRDX continued to rally another $1 and I am not in it.  Broke my rule to not exit a stock completely.  Don’t know if I’ll have another chance to buy back in but hope so.

But with all that cash I couldn’t help spend a bit.  Took a new position in BLSW at 1.38 and added 25% more PSMT at 16.17.  Pretty loaded up on PSMT now.

STKL, after taking a big hit early in the week, dropping to $1.80 from $2.14, closed higher for the week at $2.17, a remarkable show.

UNG closed above $15 and my June $14 puts expired worthless and I pocketed the premium.  UNG came down the last couple of days and have no position at this time.  The news keeps pushing that there is plenty of natural gas but speculators keep buying.

All in all, a good week with a down market (plus some great golf).

Options expire today which could lead to a more volatile market.

The S&P, which broke support at 925-930, appears to be heading higher this morning.  The old support will now act as resistance, so we should see the market fail in that area. Doesn’t mean a total collapse, but tough going. For Dow followers this is 8640-8680, so we have 100 points to run on the upside.

A higher opening and then sideways the rest of the day.  I have to surmise that again, we have a near term top from one week ago and we will have trouble making much headway in the near term.

Did a little trading today and leaving the day wondering if I made the right trades.

SRDX, which I had been buying on the way down, went up and I sold at 20.17, 20.30 and 20.75.  That with my trades yesterday closes out my position.  The stock looks good now, and I will rebuy if given the opportunity at a lower price. Meanwhile, edged out a profit after having the trade go against me.

Sold out the CSR I bot yesterday at 7.01 for a decent one day return.

Sold out my last PSMT purchase (16.20) at 16.39 to raise some cash.

Took a small new position in CTFO at 3.80, another Chinese smalll cap.

Good news: GMTI closed up at 0.28 with over 135,000 shares trading (none mine); UNG was down after I bot back my puts yesterday, and ELTK refused to trade today.

Looks like we may have a slightly confused market for awhile and nothing would suit me better