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Thursday, April 29, 2010

NNVC NanoViricides: Is The Correction Over?

Highly volatile stocks like NanoViricides Inc. (NNVC Charts) often retrace 50% of their moves after a large gain. Savvy traders who missed getting shares near the bottom will look for these periods of consolidation to buy shares.   

You can see from the chart below that NNVC recently made a "V-Bottom" at the 50% point and now may be poised to go higher.  Since buying more at $0.93, I have not sold any shares and was glad to see the 50% level hold as support.  

click chart for full size image

In 2009 I bought shares as low as 45¢ then shortly after publishing my article "NanoViricides Presentation Summary" the stock made a huge run so I took some profits at nearly a triple to $1.20 early this year.  I repurchased those shares weeks later at $0.93.  Overall, my average price per shares is $0.81 and I have not felt the urge to risk losing some shares to try and lower my cost basis further.
Nanoviricides Buy/Sell History 

Date Action Shares Price
$
Amount
$
Running
$ Total
Shares
Held
Avg $/
 share
06/18/08 BUY 1,000 1.64 -1,652 -1,652  1,000 1.66
09/17/08 BUY 1,500 0.80 -1,212 -2,864  2,500 1.15
05/13/09 BUY 1,000 0.56 -  572 -3,436  3,500 0.98
10/23/09 BUY 1,000 0.45 -  462 -3,898  4,500 0.87
1/13/10 SELL 1,000 1.20 -$1,188 -2,710  3,500 0.77
02/11/10 BUY 1,000 0.93 -  940 -3,650  4,500 0.81


NanoViricides Inc has a shelf registration to issue more shares which will dilute shareholders but it could come with great news on how they will spend the money. 

Disclosure: I own and trade NNVC in my personal and newsletter accounts with shares purchased as for as little as 46¢ for overall profits in my position as of this writing.

Since 12/31/98 "Kirk's Newsletter Explore Portfolio" is UP 159% (a double plus another 59%!!) vs. the S&P500 UP a tiny 8.6% vs. NASDAQ UP a tiny 3.5% (All through 12/31/09)

In 2009, "Kirk's Newsletter Explore Portfolio" gained 33.5% vs. the DJIA up 18.8%
As of 4/25/10, the explore portfolio was
up 11.1% YTD

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