Just an aside, as WP likes to call them. I’m not really able to toss out any sort of analysis into the markets at the moment to coincide with the mid-week securities report, but I do want to update my mid-week scorecard and make just a few notes.
I think it’s good to admit when you’re wrong – but I’m not doing that quite yet with regard to AMC. I do, however, think it’s fair for me to take some blame for not having done enough homework on the company/companies (this is unclear to me) that the stock represents – as I’ve been entirely put-off until now by the operator’s “press release” style of communicating. I will be spending the first few days of next week expert-izing myself on the subject of this issue.
The other thing that is looking pretty clear to me at this point is that ASICMINER is bearing the brunt of what I expect to be temporary capital flight out of Bitcoin. As many in Bitcoinia seek to move capital out of BTC, perhaps to altcoins or back to fiat, during this period of volatility – much of that capital has likewise vacated ASICMINER.
This mid-week report also marks the entrance of BASIC-MINING to my watchlist, entering the chart at #7. I’ll be adding a buy/hold/sell call to this security at the next weekly update which I expect to go out Monday the 15th.
My self-scoring system allocates points based on my call which are then multiplied by the percentage gain/loss experienced by the security based on investments distributed amongst the rated securities weighted to market capitalization.
I currently cover 12 virtual securities and have calls on 7 of them.
- ASICMINER – buy (1.15x) call at MCAP: ฿1,644,999.34988304 [7/5/2013]
Current score = -18.76 (7/9/2013)
- LTCGLOBAL – strong buy (2x) call at MCAP: ฿100,972.30003187 [7/5/2013]
Current score = +0.52 (7/9/2013)
- 100TH – hold (0.75x) call at MCAP: ฿155,481.30000000 [7/5/2013]
Current score = -6.09 (7/9/2013)
- S.MPOE – hold (0.75x) call at MCAP: ฿788,610.00000000 [7/5/2013]
Current Score = +4.49 (7/9/2013)
- S.DICE – hold (0.75x) call at MCAP: ฿240,000.00000000 [7/5/2013]
Current Score = +5.18 (7/9/2013)
- NastyMining – hold (0.75x) call at MCAP: ฿12,500.00000000 [7/5/2013]
Current Score = -0.08 (7/9/2013)
- AMC – sell (-1.15x) call at MCAP: ฿141,000.00000000 [7/5/2013]
Current Score = -15.19 (7/9/2013)
Total Current Score = -29.95 (7/9/2013)
So yeah, not doing great. I’m not sure if I can blame that on my ignorance of AMC or if I should just wait out the call. The stock dropped over 40% last week and has mostly rebounded since – but that’s 10 days of huge volatility and I’ve been hearing good things about the day trade there regardless of what the fundamentals are. ∞