TPS Position Update – September 25, 2013

| September 25, 2013
September 25, 2013
. . . . Magellan Petroleum (NASDAQ: MPET) – SellIndependent oil and gas company, MPET, is up 15% since being added to our portfolio. That’s not bad for under a year’s return.However, since around April, the stock has barely moved.  In fact, it’s roughly traded in a $0.10 range over the last six months.

That’s not the kind of performance we envisioned when buying the stock.  Given the lack of movement, let’s go ahead and sell our MPET shares here and collect the modest profits.

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

KWK is having a solid month of September.  The natural gas producer is now up 18% from our entry point.

Warmer than usual weather is giving a boost to natural gas prices.  And, higher natural gas prices implies more revenues (and profits) for KWK.  What’s more, it’s already approaching the cold season – which is traditionally a bullish season for nat gas.

In other words, the shares are in a good position to break out to the upside.

With the recent move higher, KWK has moved out of our buying range.  As such, we’re moving the position to Hold.  Hang on for bigger gains ahead.

. . . . Nevada Gold & Casinos (AMEX: UWN) – Hold

UWN continues to hold its own in our portfolio.  As of this writing, the gaming company is up 31% for us.

But, there could be some additional good news on the horizon.

Two different UWN executives have recently bought shares in the company.  Keep in mind, insider transactions are a good way to gauge management’s faith in their company. After all, managers aren’t going to throw money into a sinking ship!

These two insider buys could be a sign that UWN’s upcoming quarterly results are going to be better than expected.  Or, perhaps the company has other big news on the horizon.

Keep holding your UWN shares for a chance at big profits.

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 Magellan Petroleum (NASDAQ: MPET)
  • Move Quicksilver Resources (NYSE: KWK) from Buy to Hold


Category: TPS Update

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