Friday, March 23, 2012

Out of Jaguar Mining

I folded my position in Jaguar Mining, Inc. (Ticker: JAG). I initiated a small position in February at $6.77 based on the fact that the company was exploring strategic alternatives. The stock has been acting horribly and yesterday, the company announced earnings that were below views. I sold today at $4.95 generating a net loss of 18.55% (including the income from the covered calls). I generally try to limit my losses at ~ 10%, but this one got away from me a bit.

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