Today we got wacked with an analysist upgrade overnight while we were holding the stock. There is nothing we can do about that, it happened after we purchased the stock while we were holding. Apprarently an analysist felt that the stock was now poised to go onto better and bigger things with its new aquisitions but I saw a stock that was going to have a bad balance sheet.The error I made here was that the aquisitons were currently generating money as stand alones, which influenced the analysist. I will take that into account from now on and stay with stocks that purchase things/companies that have currently no income making abilities but more foward looking enthusiasm. We exit the short at this price:
Impax Laboratories Inc. (IPXL)
-NasdaqGS Watchlist
27.550.90(3.38%)12:34PM EDT - Nasdaq Real Time Price
Prev Close:
26.65
Open:
26.59
Bid:
27.47 x 200
Ask:
27.48 x 100
1y Target Est:
26.91
Beta:
1.34
Next Earnings Date:
4-Nov-14
Day's Range:
26.59 - 27.71
52wk Range:
19.39 - 31.04
Volume:
546,133
Avg Vol (3m):
696,318
Market Cap:
1.88B
P/E (ttm):
60.68
EPS (ttm):
0.45
Div & Yield:
N/A (N/A
Oh well, I am up over 100% this month, and this is just a 4 percent loss. I can't be 10 for 10 all the time. This is why we have our money in 10-20 different piles and we are only using one pile at a time. As the ship moves foward, the gains will accumilate. Please see my record by clicking the Sandbox (top right of page) then going down near the bottom right for my recent history.
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