MNI Trade on Jan 16, 2020 10:26 from beno: Tradervue User Stock Trades.

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beno

 

Fundamentals

As of : FY 2019
Shares Outstanding: 7.9m
Cash: 11.4m
Current liabilities: 261m
Current ratio: 0.4
NWC (total current assets - total current liabilities): -152.7m
Monthly Burn rate (net loss / months): 2.84m
Estimated current cash: 1.48m

Catalysts / News / Painting the picture

-Jan 15 AH: McClatchy Enters into Standstill Agreement with the PBGC
-Newspaper business
-Almost out of cash (1/2 month to go)

Technical Analysis

-Levels: 1.40, 1.70, 2, 2.50
-Strong open with no major pullbacks
-Halted at 2.01, resumed above making $2 a nice level to long from (all shorts trapped)
-Still closed green (+1$ / 240%) from yesterdays close

Original Plan / Strategy

First Test Long of $2

Review

All lots got filled, took 3 lots of profit taking at my targets, held last lot for a bigger move, bigger move wasn't happening and selling was hard near 2.15 so I sold a portion of my last lot at 2.14 then the rest at 2.07, made right call, stock trending down after that.

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Execution detail:

Date/time Symbol Side Price Position
2020-01-16 10:26:40 MNI buy $2.030 long
2020-01-16 10:26:57 MNI buy $2.010 long
2020-01-16 10:26:59 MNI buy $1.990 long
2020-01-16 10:26:59 MNI buy $1.970 long
2020-01-16 10:27:37 MNI sell $2.070 long
2020-01-16 10:27:41 MNI sell $2.090 long
2020-01-16 10:27:41 MNI sell $2.110 long
2020-01-16 10:32:29 MNI sell $2.140 long
2020-01-16 10:32:45 MNI sell $2.070 0


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