StockRagATPG

Sell: ATPG

Harvey — Wed, 02 Jun 2010 03:36:14 +0000

Sold ATPG at $9.75. Loss…too much. Should have sold last Friday. With BP screwing around and failing at the “Top Kill”, Oil truly is the dog of all the sectors. However BP’s latest idea of cutting the casing off and putting a pipe over it sounds a whole lot more likely to work. It too won’t be a walk in the park though. Bet they are wishing they had paid attention to the warnings signs they had of a blowout.

ATPG’s chart above looks ripe for a turnaround, but if you look at a multi-year chart you would see that they could fall alot further and with BP saying they may not have the well capped before sometime in August, that’s alot of time to keep on dropping.

Actually, I should never have bought ATPG. There hasn’t been anything worth buying and I got bored. I’ve been in cash only for what seems like forever. Guess it’s back to boredom and wait for a push to the upside. My thoughts right now are to buy and sell TNA above or below the 17 sma line for the summer at least (if it ever turns around).

ATPG Update

Harvey — Fri, 28 May 2010 07:14:15 +0000

ATPG got poleaxed this morning due to future rule tightening on offshore drilling. WACK…a 10% off sale. It did recover a bit by the end of the day though. I thought about averaging down, but resisted. What I had wanted to do this morning was buy some TNA at a discount from yesterdays close. I was going to buy some yesterday, but into the close it was headed down. Well that didn’t happen. No, USA stocks surged in high volume after Europe surged as “China conveyed a sense of confidence in Europe”. Now, isn’t that special?

Buy: ATPG – ATP Oil & Gas Corporation

Harvey — Thu, 27 May 2010 04:19:17 +0000

Today I bought ATPG – ATP Oil & Gas Corporation at $12.58. Why, I’m not sure. I guess I liked it’s chart. This stock was a “z Stock” back in March of 2009. It doubled then. The last three quarters it has been in the $15-20 range. Right now the Market seems to want to get going higher again, yet stumbles. I’m hoping Mother Market takes it back to $16 lickety split.

Also, I have started buying back into PSVIX, my mutual fund of choice. I’m hoping it’s not to early, but that’s why I’m only nibbling. Will get back in size when it claws its way back over the 15 day sma.