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Chris Mellor: Storage stock picker

Share buying mini-extravaganza

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Okay, they say, if you know so much about storage why ain't you making shedloads of money, or have you got sh*t for brains?

Harsh, but fair. So we took a gamble and dived into the stock market hurly-burly and are now the proud owners of shares in two storage suppliers. Our whiz-kid financial jiggery-pokery was guided by a carefully worked out strategy involving numerical quantitative analysis, careful interpretation of SEC filings, exhaustive talks with company officers, and arcane movements of a pin and a chart.

Basically it's about making lots of money. So far this has not enabled us to buy a yacht or talk to Larry Ellison on terms approaching financial equality, but we are deffo on our way. Watch out, Warren Buffet!

We have made gambles investments in two companies that we think can grow and see their shares appreciate. One is CommVault and we own 47 shares which cost $29.40 each at the beginning of January. They are now trading at $33.73, having risen since the end of January with good trading results having been reported by the company.

The other stock we own is in Overland Storage which we figure will either crash and burn - or make us lots of money from our several hundred shares as it recovers from the get-out-of-Nasdaq and reverse stock-split dumps under its now not quite so shiny and new management team. So far the shares have done nothing much, but benefit from an unexplained hike in value over the past couple of weeks and are on their way back down again.

They were $1.42 at the beginning of January and are now worth $1.99 having peaked at $2.45. There was no public reason for this sudden spike, with no looming quarterly results statement or hints of chief technology officer and VP engineering Geoff Barrall pulling new product rabbits out of his technology hat. It's a mystery and shows what we know - nothing.

The good news is that our storage portfolio is up and our gilded dreams of avarice are in full swing. We shouldn't lose our shirts but collars and cuffs might be at risk. Whenever we write about either CommVault or Overland we'll add a little disclosure statement to let you know we now have a bias. We'll keep you posted on our storage stock-picking progress as we head towards billionaire status or confirm that our brains are made of the brown stuff that sticks to fans. ®

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