Long ICMB @3.23
Updated
Got in mid-day as it pulled back from the open to Friday's closing price.
Indicator and strategy are 17-0 in the last 12 months on this one. While the stock was down about 18% over the last 12 months, here are the stats on this strategy in that time frame:
17-0
Average trade: +4.9% (median is the same)
Avg. holding period per lot: 11.8 days
Avg. %return/lot/day held: +0.41%
Total 12M return: .83x lot size
Will add lots as long it is oversold. Note: oversold isn't just a lower price after the initial trade. For example, if it rallies for a couple of days but then falls back below the initial entry price, in may be a lower price but not currently oversold. I will hold each lot until it's overbought and profitable. I'll update if I add or close lots.
A final and not insignificant VERY compelling reason for me to take this trade - dividends while I wait for the trade to play out. Sometimes the trades take weeks or months to play out. This stock is a BDC and pays dividends to the tune of .15/share/quarter (4.6% per quarter at this price). Ideally I'm not in the stock for an entire quarter, but if I get stuck holding it for a while, I'm getting paid handsomely to do so.
This is a log of my trading, not investment advice, so trade with me at your own risk.
Indicator and strategy are 17-0 in the last 12 months on this one. While the stock was down about 18% over the last 12 months, here are the stats on this strategy in that time frame:
17-0
Average trade: +4.9% (median is the same)
Avg. holding period per lot: 11.8 days
Avg. %return/lot/day held: +0.41%
Total 12M return: .83x lot size
Will add lots as long it is oversold. Note: oversold isn't just a lower price after the initial trade. For example, if it rallies for a couple of days but then falls back below the initial entry price, in may be a lower price but not currently oversold. I will hold each lot until it's overbought and profitable. I'll update if I add or close lots.
A final and not insignificant VERY compelling reason for me to take this trade - dividends while I wait for the trade to play out. Sometimes the trades take weeks or months to play out. This stock is a BDC and pays dividends to the tune of .15/share/quarter (4.6% per quarter at this price). Ideally I'm not in the stock for an entire quarter, but if I get stuck holding it for a while, I'm getting paid handsomely to do so.
This is a log of my trading, not investment advice, so trade with me at your own risk.
Note
Closed the position at 3.34 at the close. Now 18-0. 4 day trade +3.4%. Not dazzling but stacking these kinds of trades adds up over time, even when they are not huge wins. I'm happy. Especially this week when tech was getting its nuts kicked in it was a nice calm up every day kind of trade. Have a good weekend!Note
Result summary (for my accounting)
Wins: 1 Losses: 0
+3.4% in 4 days
Annualized rate of return: +214.2%
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