Hello all. Last night, we got some great news on our current positions. Schnitzer Steel (SCHN) reported excellent profits, hitting an EPS of 1.43 vs. the expected 0.87. We got involved at an average position of 41.30. I am hoping the stock can gain enough to break even and a bit more. Along with SCHN, we have another steel position in Tuesday’s Buy Pick of
the Day in Worthington Industries (WOR). We got involved with Worthington at 13.40, and once again, this position is down a bit from where we started. I would be happy with break even to 2% range for both. The final position that I have open at this time is an Overnight Trade in Christopher & Banks (CBK). We got involved yesterday afternoon with CBK at 6.40. I will be looking to sell this one within the first few minutes for whatever gains we can get.
Today, I will not be making any new picks because I am going to be taking tomorrow off and Monday is a holiday. I will be traveling home for the July 4th weekend. Today, I have some important meetings to attend as well, so I a not going to enter us into any new positions I cannot fully oversee. We will try to exit these three, and I have given my exit strategies.
I will, however, have a virtual portfolio update for June’s gains, losses, and changes in virtual portfolio value available for you all later today. Check back for that post.
Thought this Business Insider Chart was interesting…
Have a great day and holiday weekend!
Good Investing,
David Ristau
