Buying Back Some Acme Packet (APKT)

July 16, 2010 Mark Hanna

On the last flush down in the market a few weeks ago, I made Acme Packet (APKT) my largest position. It took a few days to wake up but it eventually worked out very well, with a 20% type of gain in 2 weeks. I sold it off in increments, including a sale yesterday in the $32.70s. The stock is already down over 9% from that price point and near the 20 day moving average. Just as I incrementally sold off exposure, I shall do the same with purchases. I will start slow and essentially get back what I sold off yesterday with about a 0.7% addition in the $29.70s area. If the market continues to drop I’ll be interested in larger purchases down there near $27. The force is strong with this one.

Disclosure: Long Acme Packet in fund; no personal position

About Mark Hanna 542 Articles

Affiliation: Hanna Capital, LLC

Mark Hanna is President and Owner of Hanna Capital, LLC, a registered investment advisory firm. Mark has been a follower of markets since the late 80s, with a focus on individual equities since the mid 90s. He has been a well known commentator in the financial blogosphere for the past 5 years, following a career in corpoporate finance and accounting. Mark attended the University of Michigan where he graduated with a degree in Economics.

As an avid reader, Market Montage is the personal blogging site for Mark to share his views on economics, markets, and the like. Occasional cynicism and wit shall be deployed in his postings.

Follow Mark on Twitter @fundmyfund.

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Buying Back Some Acme Packet (APKT)

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