Tuesday, July 22, 2008

Bookkeeping: Adding to A-Power Energy (APWR)

The world no longer needs wind because crude is falling to the $120s. The hedge funds told me. I am going to stick my hand out, and ignore them, to catch the falling knife that is A-Power Energy Generation (APWR) - which is filling a gap in it's chart at $23. The stock is currently at the $23.30s range so that is close enough for me. This was the name that I did not cut back on in the low $30s last week, trying to curtail trading velocity in the fund, but this market smirked at that decision as all gains must be harvested, lest said gains are quickly demolished within a few days.

As the stock has fallen, it's dropped to a 3.5% stake intraday, so I'm pushing it back up to 3.9% with a few hundred share purchase. Next purchase will be down at $21 range if it gets there. I suppose if crude gets back to $110 the Chinese will stop all wind turbine projects since they are no longer needed.

Long A-Power Energy in fund and personal account

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