Bernie,
sorry, its not brilliance, but plain old fashioned technical analysis. But to answer your question: based on a candlestick chart I prematurely switched my position from short to long with a small gain (some hundred $) only to get stuck in the predicted downward move. Should I have averaged down @ 9$ ? Surely, but I wasn´t that brilliant. Quickly enough the whole market reversed and I found myself being long, just before the good report came out. I fact I was able to catch some additional 100 shares immediately after the opening today @ a reasonable price, but wasn´t brilliant enough to put in a sell order @14, which would have given me the quick quits, I was referring to in my last posting.
The technical aspects, which led me to short APCC under 12$ have now reversed dramatically. Still I´m not convinced for the long term (independent of the capable management, APCC can be proud of) for the market as whole. We will surely see higher prices in the weeks ahead, but I expect the markets to see new lows within the next twelve months. This will lead to the adjusted valuations, I was referring to.
Happy trading
Paul |
