Tuesday, February 10, 2009

Short Apollo Once Again




The time has come to get short Apollo Group, ticker APOL, once again. I am short 1 unit of APOL here at $83.05 and as my notes indicate (chart above) I will use yesterdays intraday high as my pain threshold point with a stop just above it at $86.32


Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 2 units Ultrashort MSCI EAFE ticker EFU @ $89.80 stop at $89.80
Long 2 units Ultrashort S&P500 ticker SDS @ $69.80 stop @ $66.15
Long 2 units Ultrashort Real Estate ticker SRS @ $53.80 stop @ $47.18
Long 1 unit US Gasoline fund ticker UGA $21.85 stop @ $20.38
Short 1 unit Wells Fargo ticker WFC @ $20.20 stop @ $20.20
Short 1 unit Apple ticker AAPL @ $102.05 stop at $10.36
Short 1 unit Apollo Group ticker APOL @ $82.95 stop @ $86.32

5 comments:

Raj said...

Man, you are a real fan of APOL. Is this the third time? Good luck and hope this time it goes down to its true value.

Harleydog said...

Raj, thx for the note and yes it is. I am trying to learn from my mistake of CROX. That being I got frustrated by its tape action, moved on and lost track of it, only to see it break wide open to the downside.

No use getting angry at getting stopped out and taking losses on positions as this is just part of the game but missing a CROX break open is inexcusable on my part.

HD

Raj said...

Thx for the explanation re: Crox. I am a long time reader of your blog and know you have a chart-based (technical) strategy. I am not well-versed in that and am shorting based on some fundamental calculations. Obviously you have also identified some fundamental weakness with Apollo ( a la Crox) and thus keep coming back to it. I would like to add to my knowledge, so I hope to see your technical strategy working and maybe learn something from it.

Raj-

Raj said...

Well HD, Congratulations. Todays APOL actions bear out your technical indicators. I am now more convinced about the utility of charting. I remain short though based on non-technical indicators.
Raj-

Harleydog said...

Raj,

I look at macro economic indicators but in all honesty I have not looked at a balance sheet or cash flow document in many, many years as I believe all is accounted for in the tape.

Might I suggest for your technical education, Schwager on Futures by Jack Schwager, Encyclopedia of Chart Patterns by Tom Bulkowski and THE work on the subject Technical Analysis of Financial mkts by John J. Murphy.

HD