After our report on ARUN's pocket pivot on 8/25, it hit new highs today. Since it had bounced off its 50dma, today's new highs represent a second buy point for the stock. Note, the value of the pocket pivot is that those who bought it on 8/25, then buy a second position of equal size on Monday at the open, assuming the opening price is about where the stock closed today, their average cost would be around 17.60, thus would have a cushion in the stock, and a pretty sizeable position. Should the stock get pulled back in due to a continuing weak market, the sell stop loss would be less than had only one position been initiated at today's closing price.
ARUN follow up
|Published:||28 Aug 2010 05:00 ET|
This information is provided by MoKa Investors, LLC DBA Virtue of Selfish Investing (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2021 MoKa Investors, LLC DBA Virtue of Selfish Investing. All rights reserved.