TPS Position Update – May 30, 2014

| May 30, 2014

May 30, 2014

. . . . Wave Systems (NASDAQ: WAVX) – Hold

What a run for WAVX!

The stock shot higher on strong news and is currently an impressive 104% winner.

Basically, the company’s management software has been validated for use withSanDisk (SNDK) products.  As SanDisk is a major brand, this is very exciting news for the much smaller WAVX.

This could be just the start of a big move higher for Wave Systems.  Let’s keep holding our shares for now.

. . . . Quicksilver Resources (NYSE: KWK) – Sell

We’re once again looking to trim our portfolio as small and micro cap stocks have been getting the “sell” treatment by investors.  It’s a good idea during times like this to take some profits off the table.

KWK has been another solid performer for us, which we’ve held for not quite a year. It’s currently a 51% winner.

Recently, the company missed on earnings expectations and caused a bit of a pullback in the share price.  As such, it could take awhile for this stock to rebound above its 200-day moving average.

Let’s go ahead and sell the shares here while they’re still solid gainers.

. . . . General Moly (AMEX: GMO) – Buy up to $1.30

GMO hasn’t done a whole lot since we bought it back in December.  But that could soon change.

We’re not overly reliant on the technical side of things here – we tend to stick to fundamentals.  However, the consolidation/triangle pattern forming in GMO is very compelling.

Given the recent upgrade on the stock, we believe the breakout move for GMO will be upward.  In fact, a move to $1.35 in the coming weeks would not be a shock.

With the stock sitting right around our initial buy price, it’s still okay to buy GMO shares up to $1.30.

Please Note:

We don’t necessarily review every open position in each Position Update.  We focus on the positions experiencing significant news, notable price movement, or a change in recommendation.  Please refer to the Performance page on our website for our current buy, sell, or hold recommendation for any positions not mentioned in the Update.

Action To Take

  • Sell Quicksilver Resources (NYSE: KWK)

Category: TPS Update

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