Tuesday, October 9, 2007

Massive Gains in LDK Solar (LDK)

Posted by TraderMark at 3:44 PM TweetThis
LDK Solar (LDK) is all over the place - it has just about made back all it lost yesterday, +22% - been buying this morning in the low $40s. My plan, again, is to sell some off around $50-$52 as the 50 day moving average is $52 and that could provide resistance. With that said, a positive auditor report could push this right back to $60 in an instant. I will be interested to see how the stock reacts around $52.

The stock is now ballooned to a 7.0% position with today's gains, so in the interest of not being too greedy and not being tied too much to 1 name, along with raising some cash I will set some sells in lower $50s. What a roller coaster; not for the feint of heart. The stock could be up or down 5% by the time I post this. ;) While I do have a good portion of the position built in the low $40s, I also have some bought in the low to mid $50s which I am still underwater on. Gosh, it doesn't seem that long ago (Sept 24th!) when I sold LDK for $70.

The fund is nearing +3.50% for the day, and considering its a portfolio of 60 names that's pretty massive. That's better than most months for a mutual fund....

Long LDK Solar in fund

Posted by TraderMark at 3:44 PM Comments (2) | Edit This Post | Create A New Post

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2 comments:

msb said...

Not long after you added, it looks like there was a news release of a suit and it fell to the mid-44s. Roller coaster.

October 9, 2007 4:12 PM  
TraderMark said...

Well it is America. A lawsuit is inevitable.

Every stock that drops more than 20% gets a lawsuit nowadays. After all USA has 80% of the world's lawyers. They need to work. We are now a service economy - so we need to keep these lawyers flush with cash and spending or the economy collapses. ;)

October 9, 2007 4:55 PM  

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