Author: Michael Wagner
Covestor model: Small-Cap Swing Trader
Disclosure: Short JAMN, Long MCZ, NEI
The month of May was a rough one, with my model down over 4% on the month.
I am not a fan of losing streaks, but I am having one right now, and all I can do is play a little smaller, and study a little harder, and eventually a winning streak will show up.
I did have one decent short trade, selling the pumped up penny stock Jammin Java Corp. (OTC: JAMN). Losing long trades included Mad Catz Interactive, Inc. (AMEX: MCZ) and Network Engines, Inc. (NASDAQ: NEI).
I am also employing a newer (for me) trading strategy this month. I am playing biotechs with known upcoming catalysts. These are usually longer term (for me) holds, sometimes greater than a month. I like the risk/reward of these types of plays in this market.
