Having gutted a lot of long exposure and refusing to chase things that could now fall 10-20% and still not reach even their 20 day moving average, I am going to selectively buy a few things here or there, that actually are in reasonable areas of the chart in case I am wrong and the S&P goes to 1170 (and beyond) without retracing. I'll throw the same caveat as I should have attached to any short position in the past month - any long side purchase will look foolish if the market finally reverses. This is consistent with the environment much of the past 3 years, where almost without exception, your individual stock is dominated by the movement in the greater market.
Acme Packet (APKT) has now fallen enough that it is within spitting distance of the 20 day moving average; other than a few days in early August this has been the right place to re-enter for trading positions. I am adding a 1% exposure today to bring the position size up to about 1.7%. Still modest.
Long Acme Packet in fund; no personal position
x
Thursday, September 30, 2010
Bookkeeping: Adding to Acme Packet (APKT)
Posted by
Mark
at
2:25 PM
Bookkeeping: Adding to Acme Packet (APKT)
2010-09-30T14:25:00-04:00
Mark
Acme Packet|
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Labels: Acme Packet
Bookkeeping: Adding to Acme Packet (APKT)
2010-09-30T14:25:00-04:00
Mark
Acme Packet|
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