TraderWise

Well that was quick; I thought I set a quite loose stop down at $41.90 for Fuel Systems Solutions (FSYS) after increasing our position yesterday, but it's already been hit; we were not in our larger allocation for 24 hours.  Now that the 50 day moving average has been pierced (intraday) we have to see if it closes below that level.  If so the odds of this becoming a short rather than long increase...

While happy to own Fuel Systems Solutions (FSYS) we took profits on this name after a long standing limit order hit [Oct 28: 2008: Bookkeeping - Limit Order Hit for Fuel Systems Solutions], and we experienced a spike in price the very next session [Oct 29, 2009: Bookkeeping - Selling Most Fuel Systems Solutions on Spike]  , and are just sitting with a tiny 0.1% exposure.  So correct assessmen

Wow, one of my long term limit buy orders finally hit out of the blue... unfortunately it reports earnings next week so we'll have to keep a close eye on it.  The name is Fuel Systems Solutions (FSYS) - this was a big winner for us in 1st half 2008.  Basically natural gas engines, much of the production in Italy.

One of the better earnings report this quarter was from one of our old holdings - Fuel Systems Solutions (FSYS). This was a sort of secondary play on the commodity mania we enjoyed in latter 2007 through summer 2008; they make natural gas fuel systems.

We are going to add a 2.4% exposure to our holding stake (0.1%) of Fuel Systems Solutions (FSYS) on today's 10% drop.  The stock actually has fallen all the way to $44 but I just caught it here in the $45.50s on its initial bounce... $43s is its 20 day moving average.  As always, there is a risk of buying a stock cascading down on no apparent news and big volume - but we'll take a chance since we've been playing it so close to the vest of late ....

Isn't it funny how much the world changes in 2 minutes? Specifically between 8:29 AM and 8:31 AM.  The market was broken, and even after a material selloff was only bouncing along at +2 on the S&P in premarket.  This was below the 50 day moving average and things looked dire.  Then one economic number and the world changes.  I won't even get into the GDP figure, it's like the litany of other government report (CPI - inflation, Labor - employment) that are deeply flawed...

I wrote yesterday in [Bookkeeping: Stopped Out of some Quality Systems (QSII) and Priceline.com (PCLN)]

I have a feel all these positions might reverse themselves back up if the market cooperates.

And so it has come today; all 3 had breached the 50 day moving average and now all quickly jumped back over. Note, QSII did not close below the 50 day - only on an intraday basis.

Getting stopped out of many things today; the HDFC Bank (HDB) I tried to buy this morning, was stopped out very quickly. But it is already back over $90 and HDB generally does not have a ton of volume, so can be moved in large % by not that many dollars.

I was stopped out of a good portion of my Quality Systems (QSII) as it broke the 50 day moving average intraday - we kept a 0.7% stake. Still like this chart if it can quickly reverse but I'd like to see it north of $53.

And the hits keep coming; another name breaking below the 50 day moving average today - we're letting loose 80% of Skyworks Solutions (SWKS),around $13.50 - much of which we bought back just last week after a good earnings report that seemingly does not matter one iota.  All we can do is a make a list of the companies who are executing and wait until a better moment in the market to buy....