Getting long undervalued stocks is what we look for in swinging positions. We did just that in $DEPO (Depomed stock). Back in October, Hillary Clinton tweeted negatively about drug pricing and the entire industry tanked for weeks. We scooped up some DEPO as we felt it was severely undervalued compared to its peers. It was trading at only 2x 2016 revenue estimates! We got a bit greedy on the position and should have made at least twice what we did if we sold when we took profits, but fortunately we were still able to trade around our core 6,000 share position and swung it for over two months. We decided to sell it on December 30th due to tax reasons to clean our books for 2015. In 2016, we may re-initiate a long swing position back into $DEPO.
Net profit: $22,221 -- not as good as our $ENDP long swing we did around the same time in October/November 2015 but good enough! All live trades called called out in the MookTrader stock chat room.