Bookkeeping: Stopped Out of Half of Insituform Technologies (INSU)

I started a 2% stake in Insituform Technologies (INSU) yesterday after the stock fell 8% on news of multiple acquisitions. The 200 day moving average is in the $16.70s so I said I'd monitor it closely since it was at a place it could go either way on the chart. This morning the stock has faltered another quick 6% and my stop loss at $16.00 was hit. So I am out of half the position, and down to a 1% stake suffering a quick loss.

Any press release with the word "debt" is going to be a calling card for shorts, so the fact they are acquiring the debt of the companies they are buying can be used as a "reason to short". Plus they have to issue 9M shares - frankly I was shocked with 1/3rd dilution the stock had not taken a larger hit yesterday. Whatever the reason, I am going to respect the price action and limit exposure. Once I see the stock regain the 200 day moving average I will move back into on the long side in a more material way. Better safe than sorry - even if costs some sheckles today and the market maker possibly shook me out. The stock was in the $11-$15 range most of October and November ....

Long Insituform Technologies in fund; no personal position