Fuel Cell Companies Purchased for Portfolio
I placed several trades for the mutual fund this afternoon to start building a position in some of the fuel cell companies. This sub-sector has been under pressure the last couple of months but seems to be building a nice base of support at the current levels. I feel this entire sub-sector is ready for a nice up move and the stocks have been behaving nicely the last week or so. The one stock I seriously considered not adding was Quantum. The stock has been in a steady decline and there is no sign that itâ€™s going to slow down. I'm betting that the general area of support for all the companies in this sub-sector will help to provide some support to this stock. There are also some smaller stocks in this sub-sector that I'm watching as well and may add them soon.
I took a 1/3 position in the following companies for the mutual fund portfolio.
Ballard Power (BLDP) at the average price of $5.03
Fuelcell Energy Inc (FCEL) at the average price of $9.13
Millennium Cell Inc (MCEL) at the average price of $1.63
Plug Power Inc (PLUG) at the average price of $5.91
Quantum Fuel Systems Technologies Worldwide Inc (QTWW) at the average price of $2.72
DISCLAIMER: I am not a registered investment advisor. The information and trades that I provide here are for informational purposes only and are not a solicitation to buy or sell any of these securities. Investing involves substantial risk and you should evaluate your own risk levels before you make any investment. Past results are not an indication of future performance. Please take the time to read the full disclaimer here.