First Day

Last Price Cost/ Share Shares Value Gain Short Positions BSHF 1.85 -0.18 2.09 -20,000 -37,000 +4,800 +11.5% BWMS 4.22 +0.07 4.36 -4,000 -16,880 +560 +3.2% NRVN 1.75 +0.55 1.55 -200 -350 -40 -12.9% PTEK 5.15 +1.22 5.36 -3,000 -15,450 +630 +3.9% -69,680 +5,950 +7.9%
I began a new strategy today that I had been following loosely for the past several months. I decided to start the experiment today. The strategy that I am executing is a short only portfolio on microcap stocks. These microcap stocks have broken out on news that I do not find material. I was able to exploit a 7.9% gain today on the first day. My trades are outlined above using a stock simulator on Facebook. PTEK should have been used with a cover limit below $5. There was a spike 15 minutes prior to closing. This most likely was day traders covering their shorts before the session ended. If there is further strength in the stock tomorrow during opening, then I will sell short more into the strength. PTEK is a poker software company for machines in casinos. PTEK is up over 100% in the past few days and traded today at nearly 21 times normal volume.