On another note, I watched Wall Street: Money Never Sleeps this weekend, it was definitely more sappy and "Hollywood" that I would have preferred. The original Wall Street was much more "gangster" in a sense that there was much more hustling involved in winning on The Street rather than an emotional roller coaster ride that Wall Street 2 gives you.
Assuming we entered at the highs of the day, here are the returns so far.
Standard & Poor's 500 Index (SPX)
High on 04/24: 1219
Current Price: 1142
Loss on Investment: -6.3%
Comments: Caution, critical area, not able to break resistance of 1150 as of yet. Above 1150 targets next SPX level of 1219. Below 1150 targets 1050, then 1000. I ended getting stopped out of the S&P contracts, however CIM and GLD have done well since.
First up: Rackspace Hosting (RAX)
High Price on Recommendation Day: 23.47
Today's Closing Price: 26.11
Return since Day of Recommendation: 11.4%
Comments: I would have preferred a pullback closer to $20, but after the night I posted this is the day the pullback came. Stock has broken to new highs and posted 50/200 day simple moving average cross. The call buyers were very happy with this trade.
Second: Rare Earth Elements (REE)
Suggested Price: Breakout of 6.37
Today's Closing Price: 8.95
Return Since Recommendation: 40.5%
Comments: Beautiful Volume and follow through on the break of the high of 6.37.
Third: Chimera Investment Corporation (CIM)
Recommendation Price: 3.90 in April
Today's Closing Price: 4.14
Return since Recommendation: 6% + distribution yield
More to come...