After today's outstanding Q2 report, Fuel System Solutions (NASDAQ:FSYS) ended the session up sharply, +17.87%.
On June 2, 2010, FSYS was recommended as a buy at Rx Investors in addition to six other natural gas plays. On that day, shares of the company closed at $28.05.
From June 2 to August 5, 2010, FSYS has advanced approximately 22.4%.
On June 18, sell recommendations were issued for four of the seven June 2 buys in order to lock in quick profits. The sells included BWP, CHK, NGS and UNG. Fortunately, all were closed with a modest profit.
Following the June 18 sells, three positions have remained opened - CLNE, FSYS, and GLNG.
However, this week, FSYS hit and surpassed my $32 price target. When a buy recommendation hits its price target, it's presumed at Rx Investors to be automatically sold, resulting in a closed position.
Since no sell recommendations have been issued for CLNE and GLNG and that neither has reached their estimated price target, both stocks remain open positions at RXI.
As of August 5, 2010, a total of 65 buy recommendations have been issued at Rx Investors. Of the 65 buys, there have been a total of 36 sell recommendations. That's an average of 3.6 buys and 2 sells recommended per week since RXI was launched in mid-March 2010.
- 80.5% (29/36) Profitable Closed Positions since mid-March 2010
- Currently, there are 29 open positions that remain outstanding.
Disclosure: No position.