Commodity related stocks with large short interests are on the front burner, especially names that have underperformed. Names like GMXR, CRK and SD are sprinting because shorts want no part of this trading action, going into 2011. Because of this inalienable fact, I am long large quantities of ATPG. There is not a better set-up, out of the 4,000+ stocks that I follow, than ATPG, right here, right now.
Providing I can secure more risk capital, I will buy this stock, with reckless abandon. I will need to sell something in order to buy more, due to the strictest of asset allocation models—procured by yours truly.
Additionally, I really like REXX right now. So you know, my top three positions are EXK, REXX and CCJ.
I nibbled on some PWER and EXK down here and look forward to MOTR-boating, providing the stock dips another .50.
Remember, investing with precision requires that you exhibit a modicum of patience. Stocks trade up and down. Do not give up on names, just because they are trading down. There are a million reasons why stocks trade down, ranging from real fundamental concerns to a fund manager forced to liquidate to stupid rumors. It’s the disconnect between price and fundamentals that needs to be arbitraged. Know your shit, establish a course of action and don’t bitch if shit goes wrong.
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eggcellent post, as always
Since you need more risk capital, Steve, Jr. will be right over with his Bar Mitzvah money.
PWER is my second biggest holding; it sold off a little this morning on a lawsuit non-issue.
ERX Current Price: 56, Target Price: 70
http://chartingsense.blogspot.com/2010/12/erx.html
your in river grove?
STI is ripping and I have a 100% two day return. Somebody bid for that fucker by tomorrow’s close. One word: INVICTADIVINGWATCHBABY.
I’m liking the action in SVU here too and will probably buy some. That stock will rip if they find a suitor for Shaw’s.
I hate when stocks trade down on stupid rumors. Or perhaps it just creates more opportunity.
I only hate it when I am already close to all-in.
Best post I’ve read in weeks.
lies. thanks
What was so good weeks ago?
Some great information here. I’ll be looking to get long ATPG when it gets over ~16.25.
Le Fly, will you be adding more MOTR at these levels, or would wait further?
wait
Wow nice pick on MOTR. I guess dart throwing has its limitations.
Thanks for the REXX tip, much appreciated, sold at 13.66, thought about scaling out 50%, but just felt like taking a nice profit. Are you still holding?
Great post Fly. Picked up TNA at 32.50, crapped my pants a few times but stuck to the plan. Wife is very happy with the new BMW and thinks I must have a rich uncle or an off shore account she does not know about. Took a small hit on TZA when I took my eye off the ball.