Friday, December 18, 2009

Bookkeeping: Stopped Out of Most EnerNOC (ENOC), Closing Discover Financial Services (DFS)

TweetThis
The market action remains akin to scraping fingernails across a chalkboard.  Impossible to make any progress with a diversified portfolio, unless you are flying in and our of trades with under 24 hour duration.

EnerNOC (ENOC) encountered a failed breakout after 3 days of teasing- we added a big tranche on the potential breakout, and suffered a minor loss as the stock falls back below $28.50 - our stop loss was triggered and we're back to a holding position.  If it gets back over $28.50, we'll try again.



Discover Financial Services (DFS) earnings report was looked upon much more poorly by the Street, than my interpretation.  It fell quite a bit yesterday but still held support until the end of day swoon by the entire market; today it followed up with more downside.  The stock now looks more attractive as a near term short than long - especially after a cursory dead cat bounce.  I've closed the position due to the fact we've added a few new names of late and I want to focus on a manageable amount of stocks.  No real losses here as we are selling near our cost basis.  What we lost were a bunch of unrealized gains from the last few months.



Long EnerNOC in fund; no personal position

Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.

Copyright @2012 FundMyMutualFund.com