Monday, March 9, 2009

Bookkeeping: Closing A-Power Energy (APWR)

Well it's been quite the run with A-Power Energy (APWR) a Chinese power company (slash) wind play. I am going to close out this position today as I've lost patience sticking around - the last 0.5% stake is being sold today around $3.20. This is a 28% loss but the position size was small enough that it was just about a $2000 loss; no biggie. ($1 million portfolio) I can make this up in 5 minutes with another stock/ETF. While there is upside to $4s or even $5s with my position size it would just get me $1000 more so I don't see the point anymore.

Considering all the "good vibes" out of China on the infrastructure end this is the sort of stock that should of been surging on Kool Aid. The fact it has not is probably saying something. There are a plethora of pukey small cap Chinese stocks that surge each time Baltic Dry Index goes up 0.0002% but this one does not. If I'm wrong that is ok too - one less position to look at, and there are other ways to play China.

No position

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