During the trading day Thursday of last week, I tweeted the following:
There are certain positions at certain times that simply make me nervous. I can't pinpoint the exact reasons why and frankly, I don't want to. However, I've learned that the nervous feeling throws me off the scent of the stock, with the best move from that point being to exit. I would rather be in territory that I understand completely than that which I am foggy about. BFCF is foggy for the time being.
The investment in BFCF was a good one. It was a "no pain" investment from the beginning, basically going up from the time I bought in. It seemed the rest of the micr0/small-cap community started catching on in the months following my research report, as there wasn't anything that I know of published on the stock prior.
I will continue to track it for developments over the near-term, with an eye on reestablishing the position should I feel comfortable with the investment, once again.
It should also be noted that SPNS was liquidated during the second half of May for what was a breakeven trade. I gave it a month to move, however, it did exactly nothing. A month is enough with this one.
I have my eye on a couple of opportunities from here, with one position that I am in the midst of establishing at present. I'll tweet that out once its filled.
As of now, exposure is at 85% invested and 15% cash. Three positions with one yet to be announced. The three positions should be familiar to everyone: WMIH, KFS and HH.
A tight portfolio of names that I am intimately familiar with. Just the way I like it.
Goodnight.
