Exciting move out of A-Power Energy (APWR) today, up yet another 15% today on half its daily volume (in the first 1.5 hours). It is now hitting its long term resistance (50 day moving average). We are going to take another layer out of this name (we reduced it from 4% to 3% yesterday). With the move up it's now a 3.2% position so we're going to cut 2.2% of portfolio, with sales in the $5.90s.
Again, this stock is probably the most undervalued stock I can find, so if we have a technical breakout (say $6.50+) or so, I'll get back the entire position (and more) and more as I believe this is a $20+ stock - but we've been content to trade it in a range until it proves it's ready to stop being stuck in said range. Those highs in early November would be nice to breach to prove the move is "real". It stalled at $7 back then, so a move above that level and "it's on".
I would love to see this stock get its deserved valuation.
Long A-Power Energy in fund and personal account
Thursday, December 18, 2008
Bookkeeping: Another Layer Out of A-Power Energy (APWR)
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows