Introducing The $100K Tax Loss Counterpunch Portfolio:
This portfolio was constructed to take advantage of the horrific beating many stocks have taken lately probably due to end-of-the-year tax-loss selling. I screened using these parameters:
1. Price under $3.00 (leverage, more lively, speculative issues)
2. Current ratio over 2:1 (financial strength)
3. Long term debt to equity ratio below .30 (financial strength)
4. Price no more than 3 percent above 52-week low. (as close to the 52-week low as possible)
All positions were bought today including some in the pre-market session. There are a total of 49 positions in the portfolio. I attempted to make each position's starting value close to $2,000. Some positions were purchased at prices a little lower than anticipated and some at prices a little higher. Purchase prices were rounded. Total portfolio cost is about $100,300.
I haven't formulated the sell methodology yet, but I will figure that out this weekend. This is intended to be a very short term experiment. I will update results daily.
Here is the ticker list with price and number of shares:
AEZS - $.37 - 5400
AKTX - $1.38 - 1500
APM - $1.55 - 1300
AQMS - $1.24 - 1600
ARAV - $2.29 - 900
ASLN - $1.11 - 1800
BKYI - $2.19 - 1000
CALA - $.63 - 3200
CLRO - $1.29 - 1600
COCP - $.66 - 3100
CRBP - $.63 - 3300
CRDL - $1.86 - 1100
CRNT - $2.56 - 800
DFFN - $.31 - 6500
DPRO - $1.65 - 1200
ECOR - $.60 - 3300
EDTK - $.96 - 2100
ENVB - $.97 - 2200
FLGC - $1.74 -1200
GENE - $1.91 - 1100
GLYC - $1.46 - 1400
GNUS - $1.09 - 1900
GRAY - $1.70 - 1200
HUSA - $1.41 - 1400
IMV - $1.19 - 1700
INDO - $2.80 - 800
ISR - $.38 - 5300
IZEA - $1.32 - 1600
KERN - $1.81 - 1100
MBRX - $1.67 - 1200
MEDS - $2.36 - 900
NDRA - $.72 - 2800
OBLG - $1.00 - 2000
OCX - $2.04 - 1000
ODT - $1.38 - 1500
OGEN - $.48 - 4700
OWLT - $2.55 - 800
PRPO - $1.62 - 1300
PULM - $.41 - 5000
SINT - $.64 - 3300
SND - $1.75 - 1200
SYN - $.28 - 7200
TNXP - $.37 - 5600
TRX - $.36 - 5600
WINT - $1.42 - 1400
WKSP - $2.46 - 900
WWR - $2.19 - 1000
ZKIN - $1.33 - 1500
ZYNE - $2.90 - 700
I have seen lots of $1 stocks with strong earnings and solid balance sheets triple, quadruple and more, but I have yet to see one go below zero.
