UPLMQ - OTC Question

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Palindrome

I was fortunate and bought a fair amount of oil/energy related stocks when crude was around 29 back in January/February or so. Most of my picks have done well.

I bought mostly quality stocks, but bought some garbage too, the stuff that looked like was about to go bankrupt.

I bought UPL at about 1.80, it then seemed to go bankrupt and went to 0.00 basically. I just discovered in my account that it went to 0.23... now it is trading for over 4 bucks.

Is there anything I need to be concerned about being that this is an OTC now traded stock? Looks like it is not going bankrupt after all.

Seems like a nice win, kind of in shock now as I just noticed it.
 
So your trading system seems to be:
1. Go long on a stock in a severe downtrend ($31->$1.80 in two years)
2. Don't use a stop loss
3. Don't monitor the trade at all
4. Wait 6+ months

You should be concerned when any stock gets a "Q" suffix. $3.8 billion in debt, $300M cash, suspended interest payments, volatile commodity prices, and upbeat projections. What could possibly go wrong?

Hint: Use a trailing stop.
 
There is a portion of my capital where I will buy very long term holdings, where stops are not needed. Buying Crude related companies when crude was under 30, where crude was making a bottom... a bottom similar to most macro bottoms...I am more than willing to throw capital at and not care as the institutions shake the week hands out.

I appreciate your criticism and will take some of your advice. I own CHK at 1.89, and UPL at 1.80 AMLP at 8.02, COP 35.40, APA 32.90 and 6 other energy stocks I bought in Jan/Feb. I will take your advice and put a stop loss exactly where I bought all of them. My goal is to HOLD for 5+ years. I'm willing to lose all of my gains in the hopes to taking down a minimum of 300% in all of the holdings which has already happened in some of my holdings in 6 months. My account that these holdings are in has almost doubled in 6 months, and I'm not talking about a small position either.

I'm hoping to take a similar position in bonds in the coming weeks, short 30 year bond futures. It's not ripe enough yet though.
 
I still don't understand why this is going up so much. I still own it, but am just confused. This is an odd one. I guess it wants to go to 10 bucks, thats my guess.
 
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