Friday, August 24, 2007

Collective2: AMSC and UVE out

Although I liked recent market lows as a buying opportunity, it has proven hard to stay in a position without allowing for the level of volatility present in the markets. Both of the stocks exited may be worth a second look over the coming weeks, but both are no longer part of the portfolio - leaving it 15% equity and 85% cash, down from 33% equity.

American Superconductor Corp (AMSC) finished with a low volume bullish doji - but intraday lows were enough to exit the 500 share position for a painful -$975 (-9.22%) loss:

Universal Insurance Holdings (UVE) reversed the mini-breakout, bringing the stock back to triangle support. I had ran a tighter stop than the one from my newsletter, closing the 1,400 share position for a -$434 loss (-5.05%):