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Abraxas Petroleum Corp. Message Board

  • rachinvest rachinvest Apr 23, 2010 10:59 AM Flag


    Trading around my core position.

    this is not a sellout but trading around my core with cost basis ~$2.03~.

    selling 1/10 of my position for $2.90 will look to re-acquire on a dip, the rest stays long and strong. so that is a 50% profit locked in on 1/10 of my core - i think possible to buy back on future dip - if not i am still majorly long.

    i have outperformed just the stock by doing this over and over the past 10 months - trade around the core. however i got out 100% on the first run to $2.50 and stayed out until i just posted to let you know stagnat period was over.

    this is not investment advice but some people like me to post in real time what i do.

    this is my first sale of my regular core since i posted telling you all to buy back in and that the stagnant period of over three months has ended and to buy at $2.03.

    so again selling 1/10 at $2.90.

    good luck longs. i am still ultra bullish just doesn't hurt to lock in some 50% gain and look for a dip in the coming weeks when the gerneral market seels off and they throw out baby with bathwater.

    i bet i buy these back cheaper in the next month. does not mean it could not go higher in the immediate future however i will sell more into furthr parabolic rise next week.


    rachinvest has spoken - all hail!!!

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