12:30pm
GoIP Global (GOIG) launched their site today with much excitement from shareholders but they are unimpressed, as am I. Instead of a fully live and interactive website, we only have a teaser that the site will be accepting reservations this week for the patent pending Go800 services. However, if you had been following me, you’d know I had expected a pullback after the site launch as it was just an emotional ride up that is not sustainable fundamentally as the service has not launched yet. Today we are seeing some sellers locking in profits and some longs who are in a panic, as they always do when a stock doesn’t always go up, selling some shares as well. Since I prudently sold some shares near the top to lock in gains, I have been very busy today buying some back at these low prices per my Portfolio Management System/Strategy. If you haven’t already, run to read my featured article on this strategy to understand the benefits as I will be referencing it often.
Verizon (VZ) should be done preparing for the GOIG services by the end of February. I don’t anticipate any setbacks there but any setbacks could send this stock in a downward spiral. Since AT&T, Sprint, and T-Mobile are locked and loaded for the service to launch, I see no reason to think VZ won’t be ready at the end of February. The service should fully launch in March with an official date mentioned after VZ is ready. I expect the stock to trade in today’s range until we receive some positive news about the launch and/or VZ announces they are ready with some potential jumps when the website is fully interactive. So I’m buying up today and this week while the prices are under pressure in anticipation of the VZ news by next week.
Impac Mortage (IMPM) is still hovering around 3.75 and I’m looking to add if it dips towards 3.50 but we are not seeing many sellers today so I may not have that opportunity. I still expect earnings to be released in March and a nice bullish move up to which I’ll sell into and pending the earnings/guidance, I’ll consider buying back more when it takes a breather.
Sirius XM (SIRI) is up significantly today and I anticipate it to continue its move towards $1. I added some shares last week and will look to shave some off after we move past $1. I think we could see some pressure after we reach that milestone and will look to add some shares back if we do get pressured.
Still trying to accumulate more shares in Genius Products (GNPR) as well but I’m not having much luck finding cheap prices anymore. I’ll be patient this week and try to grab some cheap shares but I still have to consider adding at higher prices to increase my position leading into the launch of Scratch the Ultimate DJ. It will be increasingly tougher to obtain cheap shares as we step closer to the launch date.
Cord Blood (CBAI) has stayed fairly strong lately to my surprise. I thought we would have dipped below support levels by now but we have not. With the CEO back in town, many shareholders are anticipating some type of positive news coming out soon to catapult this stock. I don’t like banking on speculative news coming out without an official from the company telling us to expect it so if I hadn’t already, I’d be taking some shares off the table and waiting on a pullback. I’d rather buy when the momentum is going up on fundamentally sustainable news to be safe. I’m still a firm believer in CBAI long term but in the short term, I think we have too much room to the downside if we don’t receive this news in a timely fashion. I’d rather protect to the downside by locking in some profits and use that to add more if I’m right and we do dip.
Make prudent decisions today and buy in increments in case stocks dip further. That way you have cash to add if it does dip lower and if it doesn’t, who says you can’t buy when the momentum is to the upside? Feel free to stop in the chat or send an email to discuss any of these stocks further. Good luck out there.
Mike
At the time of publication, Mike was Long VZ, SIRI, GOIG, IMPM, CBAI, and GNPR but positions can change at any time.