Research Report IRG

Ignite Restaurant Group IRG runs Joe's Crab Shack and some high end Brick House taprooms. They are 70% controlled by some group after the recent IPO, perhaps 68%. As a growth company still controlled by an entity they are not held to the same standards as other Nasdaq issues (this per the IPO documents). They have limited numbers of restaurants. They have room to grow, though the Crab thing has some limitations as they target being near water in an area already eating high end seafood. I'd have to visit a tap room to understand it better. If they can grow well this could be a good one to hold. Management- a lot of experience, not sure it is stellar. A guy retired from "Sizzler" is on board, is this a plus? I've seen Sizzler go downhill over past 20 years. Another guy from Applebees, which I picture closing its doors soon based on a recent visit. It is near recent highs but too close to IPO to own right now, I'll wait until 3 or 6 months is up but keep it on my watch list for now.

One of my holdings

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How I think of things

My biggest mistake in all of my trades has been in making too many of them. I could show many charts of companies I have owned and gotten rid of too early and then failed to buy again. Well things are different now. I sleep well at night, tend to not get as excited and emotional, though I do continue to follow the market closely. Here is what I have been focusing on: 1. From Canslim I appreciate that new growth oriented companies with new products and services offer good chances. 2. From BASM I like following good talented leadership. 3. From Motley Fools, I like being able to put my senses into some actual research, rendering many ideas impractical. 4. From experience following the markets I do not like the flavor of the month, hot stocks, pharmaceuticals, pending news approvals, or rumors. I want to combine all these things, run the through my BS filters, and then INVEST and Hold. I sat through some 20% losses doing this, am now profitable. I can't remember the last time I had a 30% profit in a stock ( I remember some hairbrained options). The last honest 30% I had was my first stock trade in NFLX when it was 30 in 2007. Well, I have one now and hope and expect that it will continue to grow much beyond 30%. The only way to get that is to buy the kind of growth stocks I search out and hold onto.

Tesla reports after hours. I say scared money is out, easy move to 34. I've been holding though not as profitable. If they are executing well I will hold.

Rebalance

I've just changed how retirement accounts and an annuity are invested. In general everything has done well year to date up about 15%. What aI did was try and get away from the bottom performing 50% of funds and change to some others. This meant getting rid of small cap and global real estate funds, focusing more on growth, technology, blue chips. I was tempted to chase performance of banking or aim for other sectors but figure I am really in similar well rounded funds with exposure to all many asset classes.

The picture tells the story on my volatility trade

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VSI

It is flirting with highs. Volume low at present. It has a cup with handle like appearance to me. Others have disagreed. I've owned it a while sub 40.