Bookkeeping: Buying into the Abyss

Submitted By Trader Mark
Some purchases this AM
  1. Alpha Natural Resources (ANR) at 50 day moving average $80s (down 7% today)
  2. Fuel Systems Solutions (FSYS) at 50 day moving average $28s (down 12% today)
  3. Gafisa (GFA) all support broken - buying near January 2008 lows in $29s (down 5% today)
  4. Intrepid Potash (IPI) - chart too new to find clear support near $53 (down 9% today)
  5. Foster Wheeler (FWLT) - all support broken - buying near May lows in $63s (down 8% today)
  6. McDermott (MDR) - approaching 200 day moving average in $55s - buying in low $56s (down 8% today)
  7. Potash (POT) - below 50 day moving average of $210 - threw some in at $203 but expecting (hoping) for lower (down 4% today)
  8. Mosaic (MOS) - see Potash, 50 day support broken - threw a bit in at $125, hoping for lower (down 4% today)
  9. A-Power Generation Systems (APWR) - broke through 50 day moving average in $22s, added near $21 (down 6% today)
  10. Canadian Solar (CSIQ) - no great support level of note - added in $31s (missed the bottom, too busy buying other stuff) (down 3% today)
I'll update this entry as the day goes by...

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