Thursday, October 7, 2010

Bookkeeping: Cutting Back Acme Packet (APKT) by 75%

I only had a 1.7% type of position in Acme Packet (APKT) but going back to the theme of canary in coal mines, the leadership stocks continue to take some serious damage.  Acme is breaking support intraday (the close is more important than the current action but....) so I am going to take a cautionary stance and cut back the position by 3/4ths.  If there is no quick rebound the rest will go soon as (like many stocks) there are only acres and acres of vapor before any real support.

I'll be taking a 9% loss on the exposure let go today.

In a broader sense the leadership stocks in cloud/networking are taking another early hammering.

Long Acme Packet in fund; no personal position


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