Friday, July 16, 2010

Bookkeeping: Buying Back Some Acme Packet (APKT)

On the last flush down in the market a few weeks ago, I made Acme Packet (APKT) my largest position.  It took a few days to wake up but it eventually worked out very well, with a 20% type of gain in 2 weeks.  I sold it off in increments, including a sale yesterday in the $32.70s.  The stock is already down over 9% from that price point and near the 20 day moving average.  Just as I incrementally sold off exposure, I shall do the same with purchases.   I will start slow and essentially get back what I sold off yesterday with about a 0.7% addition in the $29.70s area.   If the market continues to drop I'll be interested in larger purchases down there near $27.  The force is strong with this one.

Long Acme Packet in fund; no personal position


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