ANW (Agean Marine)
The IPO was at 14 and it quickly traded up to 17 in the first 2 days. A pullback to 15 found suport over a weeks time and on 12/22 it moved up quickly and i added shares at 15.80. Earnings appear to be solid and the group is strong so i anticipate it to trade well for the next week or two.
The chart to the left is draw on Dec 29. All appears well and it will be interesting to see if managers will add aggressively to purchases at the start of the new year as volume comes back into the market.
Jan 12, 2007
The market has caught a bid and I have been successful in capturing some good returns in most of my positions. However ANW has been quite the laggard. I'm uncomfortable holding a position like this because I think that if the market gets weak this name will experience more than its share of distribution. So I took a very small loss and sold my position at $15.58 freeing up capital to use elsewhere.
The chart to the left is draw on Dec 29. All appears well and it will be interesting to see if managers will add aggressively to purchases at the start of the new year as volume comes back into the market.
Jan 12, 2007The market has caught a bid and I have been successful in capturing some good returns in most of my positions. However ANW has been quite the laggard. I'm uncomfortable holding a position like this because I think that if the market gets weak this name will experience more than its share of distribution. So I took a very small loss and sold my position at $15.58 freeing up capital to use elsewhere.
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