What a great week for PNWIF. If you didn’t act after last weekend’s BLOG, you can’t say you didn’t have the information. In fact, you had information few had in the market. It wasn’t because we had any “inside information”. We simply had the good fortune to get a little detective work done on our behalf.
Kmart became a client. You knew, I knew it, but the rest of the market just started catching on about Tuesday. You had all day Monday in the $2.50 to $2.60 range. Today’s close: $3.19. Net move on the week: 22.6% and a new multi year high. Very exciting.
Here’s the chart:
They say persistance breaks down resistance. It took three tries at the $2.80 level to break down the resistance in PNWIF. The break down of the resistance led to a break out in the stock.
Since the stock hasn’t traded this high since 2003, it’s really tough to say how far it will run on this surge. Remember, my short term target price on this stock was $4.00 all along ($.40 from the pre reverse split price).
This is an example of a reverse split that is working. They aren’t all bad. This company was done raising money and ready for institutional support. Their timing was perfect.
I started with this one back in August at $1.80. I would use caution on opening any new positions, but the stock could just keep clipping up the charts for all I know.
This turned about to be a huge winner over this short period of time. Comments and questions are welcome.
i have PNWIF to sell at 3.60. but i want all i can get, just like anybody. so taking a gamble where above 4.00 would be the most extreme to sell?
Editor: You make the call. It’s your money. No one ever went broke taking a profit. I do believe the following- I believe the company can grow for the next several years through both the growth on online print orders organically, and expanding by bringing in more retailers. $3.60 could be a good number.
i bought pnwif when telus bought a ton of shares 3 years a go i had a feeling that it would pay off and it did good luck
Editor: Three years is a long time to hold the stock. Make it worth your while and hang in for another year or two. It’s now trading at the highest level since 2003.
On yr recent recommendation I bought PNWIF again on 12/18 at $2.60 and sold half of my position on 12/21 at $3.15 for a fast 21% profit or $550.00. Thanks.
I did a similar fast turnover back in early Oct. and profited $900.00 in 10 days when it was PHCHF.
I have learnt over the past year that at times it is better to cash in on some fast definate profit when the opportunity arises rather then continue to just hold onto a stock. A bird in the hand is worth 2 in the bush. I will most likely buy back into PNWIF in the next few days should the price drop.
Anyway, so far so good on this one.
Happy Holidays.
Walter
Editor: A wise man once said you can never go wrong taking a profit. Congratulations on your good trading practices. Here’s a couple of thoughts. I like the fact that you know you are more of a trader. That being the case, stop losses are important for you. If you are going to go for lower, shorter term returns, preservation of capital is critical if you want to stay in the game. Therefore, everytime you buy a stock, have a mental stop loss already decided. If it trades there, just sell it. You can use my suggestion, or decide on your own. Also, another good strategy is “trading around a position”. Next time you want to buy one, buy double. When it trades up, sell half. That way you limit your risk and reduce your cost basis, but you are still in the game if the stock continues moving up. There is nothing wrong with netting $1450 in a few days. Congratulations Walter.