Friday, November 19, 2010

Bookkeeping: Stopped Out of EnerNOC (ENOC) as it Hits New Lows

There is a specific reason I do not buy falling knives, but every so often I make an attempt at one just to remind myself of why I don't like this strategy.  I tried to buy EnerNOC (ENOC) at the bottom of a range it has traded at the past 12 months a week and a half ago.  Today it broke below those lows of the past year and hence triggered my stop loss at $24.40.  This was a 3% loss... surprising how bad the stock is acting on decent earnings and guidance that was not *that* bad.

No position


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