Trade 5 of 73: IN with $1,464

On December 21, 2015, I initiated Step 5 towards turning one thousand dollars into a million.

I bought 1325 shares of REX Energy Corp. (REXX) at $1.10.

REXX is a Pennsylvania-based energy company whose shares have suffered dramatically over the last year and a half due to collapse in oil, recently hitting the low of $0.89 per share (compare this to its peak of $21.50 in April 2014). The price seems to have found support right around $1.00 mark where it has hovered for a few weeks now. This stock has had several quick 50-100% upward moves this year, and because the current price level is near all-time low, my bet is that the risk of the significant downward move is low and the stock will have no problem gaining ten percent in the near future.

My ten percent goal for Step 5 is $1,611, so I’m setting the sale target price at $1.23.

Crossing fingers this step takes less than nine months. In the meantime, I wish you a very happy and prosperous 2016!

Tim H.